Shared Time Human Resources Management, Inc.
Human Resources Consulting Cleveland Ohio

Human Resources Management

HR Case Studies

 

The following Shared Time Human Resources Management, Inc. case studies exemplify the opportunities and challenges we undertake on behalf of our clients and the sound, value added solutions we provide.

 
 

Human Resources News and Case Studies

 

STHRM, Inc Provided Fractional Human Resources to a Privately Held Distributor, Remanufacturer, and Environmental Equipment Maintenance Service Provider.

CLIENT

The client is a privately held distributor, remanufacturer, and service environmental equipment with 21 employees.  The client operates a one-shift schedule.

SOLUTION

STHRM, Inc. was hired as the Interim Director, Human Resources to grow human capital.

RESULTS

Employment

  • Company direct hires six (6) employees. Five (5) production employees and one (1) professional employee. No agency fees, with a cost savings of $71,400.00.

  • In the calendar year 2022, five employees voluntarily left the company and retained 78% of the current staff.  

  • In the calendar year 2021, turnover was 65%, and in 2022 turnover was 25%, a reduction of 40% turnover in one year.

  • Initiated outreach to local colleges, universities, vocational schools, and non-profit organizations to source candidates for employment. 

Health Care and 401(k) Benefits

  • Introduced and worked with new data analytical benefit insurance broker Joe Turi through Keystone Insurers Group.

  • The new health care plan resulted in an annual cost savings of $59,127.00 (39.45%) by restructuring the plan from fully insured to a hybrid approach using a Health Reimbursement Arrangement.

  • The new dental and vision yearly cost savings of $3,361.15.

  • Recommend and implemented change in cost sharing by to employer 80% and employee 20% from 50%/50% cost sharing monthly benefit cost.

  • Recommend and implement a short-term disability plan.

  • Proactive Health Management Plan (wellness, family telehealth with no co-pay, and employee assistance) an estimated annual cost savings of $50.000.00.

  • Implemented six (6) monthly waiting period for new employees to start participating in the 401(k) plan, increasing participation by four (4).

Compensation

  • Sourced non-exempt and exempt salaried wages from national, state, and local surveys.

  • Established non-exempt and salary broadband range with range minimum, midpoint, and maximum.

  • Reviewed positions to ensure positions meet FLSA standards as exempt or non-exempt.

    • Reviewed position descriptions to ensure positions meet FLSA standards as exempt or non-exempt.

    • Established comp-ratios (percentages to midpoint) for each employee in their grade.

  • Researched and wrote a merit budget plan for the calendar year 2023.

  • Developed and implemented production and office performance management systems.

    • Developed and implemented Performance Improvement Plan.

  • Sourced payroll service to automate payroll, time, and attendance.

Government Compliance

  • Ohio On-Site OSHA inspection found two OSHA violations and eliminated $26,000.00 in potential OSHA penalties.

  • Initiated Ohio Transitional Work program with a rebate of $2,600.00.

  • New BWC TPA saved the company $7,526 in annual fees for penalty rated.

  • July 1, 2023 Company will be group rated for the first time in five (5) years.

Human Resources Metrics

  • The human resources monthly metrics tracked headcount, turnover, worker compensation accidents, OSHA statistics, average monthly wages and salaries, labor utilization, and efficiencies.

  • Developed and wrote the 2023 Human Resource Planning document.

  • Worked with interim CFO on employer costs: wages, salaries, sales commission, benefits, 401(k), mileage reimbursement, and more.

Employee Development

  • Sourced education development plans with local community colleges and technologies companies to upskill production and office employees.

Policy Development

  • Reviewed and revised the current employee handbook.

  • Developed and wrote a harassment policy.

FINANCIAL RESULTS

 STHRM, Inc. leadership achieved the following financial results:

  • Provided the client an opportunity to increase Operating Income Improvement savings of $624,188.82.

 VALUE

  • ·Based on improvements of $624,188.82 in EBITDA, the estimated value creation for this client is over $3,120,944.10 (multiple of 5) and $3,745,132.92 (multiple of 6).

 

Notice: In order to maintain strict client confidentiality, business-specific information has been removed from this case study. The presented situations, activities, programs, projects, actions, and subsequent results are accurate.

If you are interested in learning more about this case study, results, and services offered by STHRM, Inc., please contact Glenn Levar (telephone: 440-979-1046, e-mail: grlevar@sthrm.com). To learn more about STHRM, Inc., visit www.sthrm.com.

STHRM, Inc. has teams and strategic alliances with executive wealth management experts, health and life insurance brokers, 401(k) providers, interim executives, professional advisers, operations professionals, third-party workers’ compensation administrators, and employment/contract attorneys.

We welcome referrals from our clients and friends. Please pass this case study along to anyone who may have a need or be interested in our services.

 

Glenn Levar