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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.


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HR Case Study 2

Central Ohio Service Company Saves $2.1 Million in Less Than a Year

Client: Service company based in central Ohio with 600 employees in six states and annual revenues approaching $100 million.
Situation: The client faced a number of human resources issues:

  • Employee turnover reached 50% per year at a cost of $3,000,000
  • Workers’ Compensation rate was 40% + penalty rated due to 50 lost-time accidents
  • No employment process in place
  • Health insurance costs were increasing and group life insurance plans had not been reviewed in years
  • No performance review program in place
  • Compensation and wage grades and ranges were not in place
  • Minimal training for supervisors, manager, directors for legal, leadership, and soft skills development

Solution: Shared Time Human Resources Management, Inc. was hired as an Interim Director, Human Resources and initiated the following solutions:

  • Developed new employment process protocol to include pre-employment drug screens, background checks, and reference checks
  • Developed a safety program with the company’s property and casualty insurance company to conduct safety inspections and train employees about safety
  • Reviewed health and medical insurance, group life, short term disability, and long term disability policies
  • Outsourced health care, life insurance administration, and new employee orientation to a third-party benefit administration department
  • Developed and initiated a new employee performance management system, quarterly performance reviews and personal management objectives for key employees
  • Initiated executive, manager, and supervisory training program on employment law, discrimination, and maintaining positive employee relations

Results: In less than one year, Shared Time Human Resources Management, Inc. achieved these specific and measurable results:

  • Employee turnover reduced by 10%, resulting in an annualized saving of $300,000
  • Ohio BWC will be credit rated at 17% effective July 1, 2008, resulting in a net savings of $138,000
  • Recruited new HR Representative, CFO, VP of Asset Management and Regional Manager with an annualized cost savings of $151,000
  • Lost-time accidents reduced by 50% in 2007
  • Reduced hospitalization and medical benefits, life insurance costs, and outsourced benefit administration for a cost savings of $492,000

Financial Results: For the client, whose annual revenues approach $100 million, Shared Time Human Resources Management, Inc. achieved the following results:

  • Net annual savings: $2.1 million, leading to a return on the client’s investment of 93.0%
  • Provided client an opportunity to increase Operating Income Improvement saving $2.1 million

Value: Based on an improvement of $2.1 million in EBITDA, estimated value creation for this client is in excess of $12 million.