Middle-market executives face numerous obstacles to growth while at the same addressing rising healthcare costs.
Zach Abrams, a manager with Capital Advisors Ltd. finds some firms report healthcare costs are rising up to 10% year-over-year. In attempts to keep costs low, they’re hiring consultants to uncover opportunities or are implementing in-house wellness programs. “This is really the main thing impacting their margins,” Abrams tells Crain’s Cleveland Business, adding “costs keep rising, and people just want to know when it’s going to end.”
Wells Fargo’s recent Employee Benefits Trend Survey illustrates the growing prominence of wellness programs. It finds that 93% of respondents expect an increase or improvement in the importance of wellness programs over the next five years. Half of the companies that have considered or are considering a change in wellness offerings said they are doing so as a result of the ACA, while 55% expect to put incentives and/or penalties in place this year for wellness compliance.
So, how can middle-market firms maintain their overall margins, given the expense of containing rising healthcare costs? “Based on the regulatory environment we’re in, it would be wise for businesses to understand they need to have a financial partner,” Ivo Tjan, president and CEO of CommerceWest Bank stated to Richard Franzi, host of the radio show Critical Mass for Business. “Middle market companies are after working capital, so executives need to get in front of commercial or business bankers. They can tear into your balance sheet and income statement [and] help you grow your company.”
Whether the solution is found in implementing in-house wellness programs, hiring consultants to lower healthcare costs or developing a strong relationship with a local commercial banker, it’s critical that executives maintain their firms’ margins and ultimately, develop and build their business.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
