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HEALTH CARE COSTS ARE RISING 4X FASTER THAN WAGES
Over the last 18 years, the cost of family premiums and worker contributions have risen by a total of 270% and 224%, respectively. That compares to worker earnings growth of 64% and inflation of 47%. The result: every year health care is consumes a larger percentage of Americans' paychecks.
Pharmaceutical pricing and fees have become the health care industry’s best kept secret. The cost of prescription drugs are increasing at an unsustainable rate, and to make matters worse the revenue sources aren’t transparent to the patient or employer.
Over the past few years, we've all witnessed the unchecked rise of health care costs in America.
Some employers have been sitting back hoping things will get better. Others have been desperately trying everything to regain control.
But one thing is clear: we aren't winning.
THE SYSTEM KEEPS WINNING
Every incentive in the health care system has been built to work against you: the employer.
Insurance companies make more when the cost of claims goes up.
Hospitals are buying primary care centers and referring patients to treatment options with higher profit margins.
Pharmacy Benefit Managers get paid more when drug costs increase.
Insurance Brokers have delivered ideas and tactics. But they often fail to deliver their clients a multi-year strategy that can move the needle.
2018 will prove to be one of the most challenging years for the trucking industry. Although the challenges faced are not new, the convergence of so many challenges at the same time is unprecedented. Among the top issues facing the trucking industry are:
One year ago, we began a project to get unbiased and anonymous feedback from our clients about their opportunities for growth and what holds them back.
250 CEOs, CFOs, HR Directors, and Safety Managers from 50 different companies responded to questions on the topics of Leadership, People, Brand, Risk & Employee Benefits. This is what they said.
LEADERSHIP
Almost 80% of respondents stated that they were optimistic about the future of their company. There is a lot of opportunity out there for companies with the capabilities to act on it.
It's the most overused word in business.
Everyone claims to have one, and every salesperson has one to sell you. Yet for every 100 'strategies' created, you'd be lucky to find a single one that has been executed all the way to the finish line.
Strategy has lost its meaning. But it is more important than ever. In a world that tempts you with short-term fixes, it's the only thing that can guarantee long-term progress.
It's difficult to get employees to change their behaviors. We hear this from leaders all the time:
"My people just don't get it. We do trainings and have all these safety initiatives, but our people just don't change."
It's hard. So we're going to share our secret on how we work with clients to make dramatic turnarounds in performance.
3 Requirements to Shift Culture
There are many devastating things that could happen to your company. Technological obsolescence, nuclear war, a cheap Chinese alternative.
If you choose to fixate on them, these thoughts can consume your days and paralyze your company’s strategic initiatives.
On the other hand, there are also many other (much more fixable) things that are eroding the value of your company – things that you have the power to solve with relatively little effort.
When drivers leave your company it's usually not due to your competitor offering better pay, benefits, or home time - it's usually due to something much deeper than that.
With an industry-wide turnover rate of 100%, we often attribute crashes to our road rookies. But, what about our drivers who have been with us for the long haul? You may think "He's been around for over 20 years - just leave him be and let him drive." You're wrong.
HNI works with high-performing companies to help them address the hidden risks in their business and avoid The Insurance Dependency Trap. This is done by proactively DE-RISKING their business so they can be less dependent on insurance.
HNI also offers the basic services of insurance and employee benefits. HNI has offices in Milwaukee, Chicago, and Minneapolis.