The MHEDA Journal - Fourth Quarter, 2018 - 19

EXPERT ADVICE

somewhat helpless as it relates to the ability to control
annual increases.
Fortunately I have found an alternative that changes the
myth that companies have no control over their health care
costs. In April 2016 Liftech joined a health insurance captive
with 25,000+ covered lives. Being too small to self-insure
ourselves, the captive provides an avenue to take advantage of the benefits of being part of a self-insured group.
The primary benefit of the captive is that it is focused on
employee wellness and offers resources to maximize the
benefits of primary care with the goal of reducing more
expensive levels of care down the road. Success requires
a cultural shift with employers and employees accepting the responsibility to offer and actively participate in
employee wellness programs. Done successfully employers
and employees can reap the benefits of lower health care
costs and can prove to be a hiring advantage to members.

*Buddy Smith, CEO, CMH
Services, Columbia, SC

A

One consistent theme I see through
several years of the Critical Impact
Factors is the need to hire, train and
retain top talent. Several years ago,
we set out to become an "employer of
choice." Being an employer of choice
means that we as a company develop a reputation as a
place where people want to come to work. We began to
do regular employee surveys and holding periodic small
group meetings to understand how to create an environment that people would want to work in. We revamped our
hiring process to include several pre-hire tests as well as
a rigorous interview process. Our key metric that became
our goal was our turnover ratio. We felt that if we could
reduce our turnover ratio to 10%, we would become an
employer of choice. A couple of years ago, we reached that
goal and our profitability increased. We realized that turnover is a killer. The expense of re-training, and building
new relationships with customers and fellow co-workers
significantly impacts our bottom line. To me, this has
been the most significant Critical impact Factor that has
impacted our business in the last 10 years.
* After publication, Buddy Smith sold CMH Services

Van Clarkson, President
Fairchild Equipment
Menomonee Falls, WI

A

If you look back through the last
10 years of business trends/impact
factors you'll see "margin erosion"
and "cost increases" as repetitive
themes. As a dealer principal these

are very real and have affected the way we do business. Add
to that customers using third party vendors often charging
a fee to get paid money owed to you, customers stretching
out payment terms, it can be a real challenge to make an
acceptable bottom line in this business without changing
the way we operate.
It begins with selling value in all that we do, whether
it's selling equipment, systems, service, parts, etc. Selling
benefits that increase a customer's profitability, improve
operational efficiency, reduce costs, can take the focus off
of "just the price." Recruiting and training the right sales
people who can confidently convey this message is crucial.
Also recruiting and training our technicians more than our
competitors to provide service safely and efficiently lead to
"Customers for Life," higher service margins and a more
productive overall service operation. Diversifying our offerings from just lift trucks to integrated systems, automation
and overall just finding different means to accomplish a
goal the customer hadn't thought about, as well as being
able to service it all, are all part of the change that we've
gone through over the last several years.
One thing is certain, these challenges will continue
and more will follow. If we can't change and adapt, we
won't survive. MHEDA's value in identifying these early
on have been instrumental in our abilities to adapt and
overcome effectively.

Ted Springer, President
Springer Equipment
Birmingham, AL

A

It's interesting that after looking
over the last ten years of Critical
Impact Factors, now Material
Handling Business Trends, what has
most affected our business comes from
the 2008 CIF's, factor number five. "The association and its
members need to be educated and understand the impact of
globalization and potential opportunities and challenges."
This was quite insightful in 2008 as we were beginning to
enter into the last recession!
There is no doubt that every MHEDA member has been
affected in one way or another by globalization, just look
at today's headlines! The effect globalization has had on
our business and the way we have managed it is present in
our product offering. We now sell products manufactured
in many different countries as well as the U.S., something
many members did not do years ago. Managing multiple
lines are often difficult as most know. Large parts inventories, technical training on multiple brands with many
models and sales training over a broad range of products are
just a few of the challenges that members face. However,
the rewards far outweigh the challenges as the multiple
The MHEDA Journal | Fourth Quarter 2 018

19



The MHEDA Journal - Fourth Quarter, 2018

Table of Contents for the Digital Edition of The MHEDA Journal - Fourth Quarter, 2018

Chairman’s Perspective
From the Desk of Liz Richards
Editor’s Note
MHEDA Learning Management System
Ask Your Board
MHEDA Member Profile
@Work
Women In Industry
Industry Pulse
2019 Material Handling Business Trends
Defining MHEDA’s 2019 Material Handling Business Trends
10 Years Of Material Handling Trends
Using Virtual Reality to Enhance Forklift Operator Training
Sales Success Stories
Women In Industry Conference
You Are Safe
Bank To Thanks
Be Bold
DiSC – Little Things Mean a Lot
Leading Change: The New Management Imperative
The Importance of Your Online Presence
Spotlight on Association News
New Members
MHEDA Milestones
Index to Advertisers by Product Category
Index to Advertisers Alphabetical
The Last Word
The MHEDA Journal - Fourth Quarter, 2018 - Intro
The MHEDA Journal - Fourth Quarter, 2018 - cover1
The MHEDA Journal - Fourth Quarter, 2018 - cover2
The MHEDA Journal - Fourth Quarter, 2018 - 3
The MHEDA Journal - Fourth Quarter, 2018 - 4
The MHEDA Journal - Fourth Quarter, 2018 - 5
The MHEDA Journal - Fourth Quarter, 2018 - 6
The MHEDA Journal - Fourth Quarter, 2018 - 7
The MHEDA Journal - Fourth Quarter, 2018 - 8
The MHEDA Journal - Fourth Quarter, 2018 - 9
The MHEDA Journal - Fourth Quarter, 2018 - 10
The MHEDA Journal - Fourth Quarter, 2018 - Chairman’s Perspective
The MHEDA Journal - Fourth Quarter, 2018 - 12
The MHEDA Journal - Fourth Quarter, 2018 - From the Desk of Liz Richards
The MHEDA Journal - Fourth Quarter, 2018 - 14
The MHEDA Journal - Fourth Quarter, 2018 - INSERT3
The MHEDA Journal - Fourth Quarter, 2018 - INSERT4
The MHEDA Journal - Fourth Quarter, 2018 - Editor’s Note
The MHEDA Journal - Fourth Quarter, 2018 - MHEDA Learning Management System
The MHEDA Journal - Fourth Quarter, 2018 - 17
The MHEDA Journal - Fourth Quarter, 2018 - Ask Your Board
The MHEDA Journal - Fourth Quarter, 2018 - 19
The MHEDA Journal - Fourth Quarter, 2018 - 20
The MHEDA Journal - Fourth Quarter, 2018 - 21
The MHEDA Journal - Fourth Quarter, 2018 - 22
The MHEDA Journal - Fourth Quarter, 2018 - 23
The MHEDA Journal - Fourth Quarter, 2018 - MHEDA Member Profile
The MHEDA Journal - Fourth Quarter, 2018 - 25
The MHEDA Journal - Fourth Quarter, 2018 - 26
The MHEDA Journal - Fourth Quarter, 2018 - @Work
The MHEDA Journal - Fourth Quarter, 2018 - 28
The MHEDA Journal - Fourth Quarter, 2018 - Women In Industry
The MHEDA Journal - Fourth Quarter, 2018 - Industry Pulse
The MHEDA Journal - Fourth Quarter, 2018 - 31
The MHEDA Journal - Fourth Quarter, 2018 - 32
The MHEDA Journal - Fourth Quarter, 2018 - 2019 Material Handling Business Trends
The MHEDA Journal - Fourth Quarter, 2018 - Defining MHEDA’s 2019 Material Handling Business Trends
The MHEDA Journal - Fourth Quarter, 2018 - 35
The MHEDA Journal - Fourth Quarter, 2018 - 36
The MHEDA Journal - Fourth Quarter, 2018 - 37
The MHEDA Journal - Fourth Quarter, 2018 - 10 Years Of Material Handling Trends
The MHEDA Journal - Fourth Quarter, 2018 - 39
The MHEDA Journal - Fourth Quarter, 2018 - 40
The MHEDA Journal - Fourth Quarter, 2018 - 41
The MHEDA Journal - Fourth Quarter, 2018 - 42
The MHEDA Journal - Fourth Quarter, 2018 - 43
The MHEDA Journal - Fourth Quarter, 2018 - 44
The MHEDA Journal - Fourth Quarter, 2018 - 45
The MHEDA Journal - Fourth Quarter, 2018 - 46
The MHEDA Journal - Fourth Quarter, 2018 - 47
The MHEDA Journal - Fourth Quarter, 2018 - 48
The MHEDA Journal - Fourth Quarter, 2018 - 49
The MHEDA Journal - Fourth Quarter, 2018 - INSERT1
The MHEDA Journal - Fourth Quarter, 2018 - INSERT2
The MHEDA Journal - Fourth Quarter, 2018 - 50
The MHEDA Journal - Fourth Quarter, 2018 - 51
The MHEDA Journal - Fourth Quarter, 2018 - Using Virtual Reality to Enhance Forklift Operator Training
The MHEDA Journal - Fourth Quarter, 2018 - 53
The MHEDA Journal - Fourth Quarter, 2018 - Sales Success Stories
The MHEDA Journal - Fourth Quarter, 2018 - 55
The MHEDA Journal - Fourth Quarter, 2018 - 56
The MHEDA Journal - Fourth Quarter, 2018 - 57
The MHEDA Journal - Fourth Quarter, 2018 - 58
The MHEDA Journal - Fourth Quarter, 2018 - 59
The MHEDA Journal - Fourth Quarter, 2018 - 60
The MHEDA Journal - Fourth Quarter, 2018 - 61
The MHEDA Journal - Fourth Quarter, 2018 - 62
The MHEDA Journal - Fourth Quarter, 2018 - 63
The MHEDA Journal - Fourth Quarter, 2018 - 64
The MHEDA Journal - Fourth Quarter, 2018 - 65
The MHEDA Journal - Fourth Quarter, 2018 - Women In Industry Conference
The MHEDA Journal - Fourth Quarter, 2018 - 67
The MHEDA Journal - Fourth Quarter, 2018 - 68
The MHEDA Journal - Fourth Quarter, 2018 - 69
The MHEDA Journal - Fourth Quarter, 2018 - You Are Safe
The MHEDA Journal - Fourth Quarter, 2018 - 71
The MHEDA Journal - Fourth Quarter, 2018 - Bank To Thanks
The MHEDA Journal - Fourth Quarter, 2018 - 73
The MHEDA Journal - Fourth Quarter, 2018 - 74
The MHEDA Journal - Fourth Quarter, 2018 - Be Bold
The MHEDA Journal - Fourth Quarter, 2018 - 76
The MHEDA Journal - Fourth Quarter, 2018 - 77
The MHEDA Journal - Fourth Quarter, 2018 - DiSC – Little Things Mean a Lot
The MHEDA Journal - Fourth Quarter, 2018 - 79
The MHEDA Journal - Fourth Quarter, 2018 - 80
The MHEDA Journal - Fourth Quarter, 2018 - 81
The MHEDA Journal - Fourth Quarter, 2018 - Leading Change: The New Management Imperative
The MHEDA Journal - Fourth Quarter, 2018 - 83
The MHEDA Journal - Fourth Quarter, 2018 - 84
The MHEDA Journal - Fourth Quarter, 2018 - 85
The MHEDA Journal - Fourth Quarter, 2018 - 86
The MHEDA Journal - Fourth Quarter, 2018 - 87
The MHEDA Journal - Fourth Quarter, 2018 - The Importance of Your Online Presence
The MHEDA Journal - Fourth Quarter, 2018 - 89
The MHEDA Journal - Fourth Quarter, 2018 - 90
The MHEDA Journal - Fourth Quarter, 2018 - 91
The MHEDA Journal - Fourth Quarter, 2018 - 92
The MHEDA Journal - Fourth Quarter, 2018 - Spotlight on Association News
The MHEDA Journal - Fourth Quarter, 2018 - New Members
The MHEDA Journal - Fourth Quarter, 2018 - MHEDA Milestones
The MHEDA Journal - Fourth Quarter, 2018 - Index to Advertisers by Product Category
The MHEDA Journal - Fourth Quarter, 2018 - Index to Advertisers Alphabetical
The MHEDA Journal - Fourth Quarter, 2018 - The Last Word
The MHEDA Journal - Fourth Quarter, 2018 - cover3
The MHEDA Journal - Fourth Quarter, 2018 - cover4
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