Shared Time Human Resources Management, Inc.
Human Resources Consulting: Recruit. Retain. Resolve.

Human Resources Case Studies

HR Updates

 

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

 

HR Case Study 10

STHRM, Inc. Saves Client $204,000 in Less Than Six Months

Providing value to clients since 1993, Shared Time Human Resources Management, Inc. is a value-oriented source for Human Resources solutions. Our private consulting and custom-designed systems present a high-value, low-cost solution to fixed-cost human capital issues. Our staff has more than twenty-five years of corporate human resources experience with “Fortune” listed, “Inc. 500,” and privately owned businesses. The following STHRM, Inc. case study exemplifies the type of opportunities and challenges we undertake and the sound, value-added solutions we provide.

Client

Service company with 75 employees based in Northeast Ohio.

Challenge

The client’s Ohio Bureau of Workers’ Compensation was in penalty rating.

Solutions

  • Conducted a safety inspection

  • Wrote the Premium Discount Plan (PDP+), which was approved by BWC

  • Investigated new manual classification through BWC

  • Brought into compliance with Ohio Drug Free Workplace

Results

In less than six months, STHRM, Inc. achieved these specific and measurable results:

  • Drug Free Workplace and PDP+ saved the company $18,000

  • Lead in reclassification of BWC risk class, reducing costs by $22,000 per year

  • Initiated request for BWC audit resulting in recovery of $9,000

  • Wrote PDP+ plan, which was accepted by BWC

  • Sourced new TPA, resulting in annual cost saving of $53,000

  • Conducted quarterly safety inspections to maintain a safe work environment and maintain new lowered BWC costs

  • Challenged and won an unemployment claimChallenged BWC case resulting in dismissal

Financial Results

STHRM, Inc. leadership achieved the following financial results:

  • Net annualized savings of $204,000

  • Provided client an opportunity to increase Operating Income Improvement savings by $204,000

  • Based on an improvement of $204,000 in EBITDA, estimated value creation for this client is in excess of $1,020,000

Client Comment

“STHRM, Inc. accomplished a great deal of work in a little bit of time and it is worth the investment.”

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.

M