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Top Manufacturing Companies View Benefit Plan Performance as Growth Driver

By Robert Gearhart on Mar 5, 2020 9:00:00 AM

Employee benefits are a top-three line item for most companies, but many employers have given up on this category of expense. Accepting defeat, they plan on annual 10 percent, 20 percent, even 30 percent or greater rate increases as the inevitable reality of their benefit plan performance. But top manufacturers have a different perspective, managing the expense the same way they manage all other costs of doing business. Benefits are an asset — and they need to perform like one.

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Does Free Cash Flow Come To Mind When Thinking of Your Insurance Adviser?

By Robert Gearhart on Mar 3, 2020 9:00:00 AM

Most business owners do not look at insurance professionals as being able to help their business grow and produce free cash flow in the process. This is because, historically, insurance professionals have never been able to manage or reduce costs.

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3 min read

5 Convenient Resources for Finding Qualified Manufacturing Employees

By Robert Gearhart on Feb 27, 2020 9:00:00 AM

The National Association of Manufacturers and the Bureau of Labor Statistics have identified a need for several million qualified manufacturing employees over the next decade. Sounds like good news for people looking for a job, right? Unfortunately, there is a catch. The industry anticipates being able to only hire about one-third of these new workers needed, creating a huge employment gap which will likely increase labor costs.

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Generate a Surplus From Your Benefits Expense; Re-allocate to Personnel and PP&E

By Robert Gearhart on Feb 25, 2020 9:00:00 AM

Your benefits expense does not have to continue to grow at 10% or more each year. Once you take control of those costs that have been out of control for years and improve your employee healthcare benefits, you can take the surplus and invest in:

  • People (wages, salaries, and better benefits to retain and attract talent);
  • Property and Plants (building new, and/or renovating existing facilities to accommodate higher productivity); and,
  • Equipment (replace depreciating capital assets with newer technology that allows your company to remain competitive and expand into new markets).
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2 min read

Manufacturers Now Offer More Robust Healthcare Benefits at Lower Costs

By Robert Gearhart on Feb 20, 2020 9:00:00 AM

Manufacturers get healthcare benefits! The National Association of Manufacturers reports that 98% of its members provide healthcare plans for their employees. Some of the reasons why manufacturers invest heavily in providing healthcare benefits include:

  • It allows them to maintain a healthy workforce, essential for productivity and growth
  • It allows them to attract and retain qualified employees
  • Providing healthcare coverage is simply the right thing to do
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