health.wealth.life. VOL. 21
Two organizations united by their shared mission of saving lives Page 4
creating a culture OF WELLNESS Page 10
A culture worth copying Page 18
health.wealth.life.
IN THIS ISSUE WORKING KNOWLEDGE PAGE 8: The Power of Compound Interest PAGE 13: Biases in Investing PAGE 16: Career. Culture. Community. with David Templeton
TRENDING NOW
Client SPOTLIGHT: Modern Office Methods page 18
PAGE 9: Lessons to Be Learned from HBO's Hit Show "Succession" PAGE 12: A Conversation with FC Cincinnati's Jeff Berding PAGE 17: Celebrate Good Times!
Wellness Works: American Trim Page 10
forward thinking PAGE 6: Using Data to Be the Superhero of Your Health Plan
Network for life PAGE 4
PAGE 14: IBX is Transforming the Way You Buy Insurance
Benefits:
What, Like it’s Hard? SM
Check out the #2 Health Insurance Podcast in the country
"Benefits: What, Like it's Hard?"SM is the perfect podcast to teach your employees about all things benefits with tips on how to improve physical and financial wellness! Visit www.horanassoc.com/tunein to learn more and subscribe to the podcast on your listening app of choice.
2
Volume 21
A Letter from the President I
t is finally fall! Trees are still holding their color. The harvest is in except for those final leaves of kale and perhaps a gourd or two.
Network for Life. These wonderful people make a real impact on the lives of recipients as well as the families of recipients and donors.
We think our fall magazine is a cornucopia of great ideas for good health and great wealth. So many of you have commented on the quality of our material and I believe this issue will live up to the standards you are challenging us to keep.
Our own team of HORAN experts created great articles on succession planning tying in the hit HBO series, “Succession,” biases in investing and the importance of utilizing data to shape your health plan strategy.
A couple of the staff picks tagged as "must reads" include the interview with Modern Office Methods discussing how their Human Resources Department works with the Wellness Committee to promote employee wellbeing. Additionally don’t miss the article on
Front cover: Photo of Crystal River, Colorado by Keith Kaplan, pictured left with wife.
And the whipped cream on top of this great pumpkin pie is our Q&A with the President of FC Cincinnati—Jeff Berding. Enjoy the fall colors and our fall edition of the HORAN magazine and please keep sending us those ideas you have for additional articles in the future.
Terence L. Horan, CLU, ChFC President & Chief Executive Officer
Keith Kaplan is a talented photographer from Cincinnati, Ohio. You can find a gallery of his work on www.fineartamerica.com.
3
health.wealth.life.
COMMUNITY IMPACT
Network For Life Unifies Two organizations with a shared mission of saving lives L
ifeline of Ohio (Columbus) and LifeCenter Organ Donor Network (Cincinnati) joined forces to create Network for Life in 2015 to share resources and collaborate on their shared mission of empowering the region to save and heal lives through organ, eye and tissue donation.
benefits of sharing a CFO, the organizations soon extended the shared resource model to positions in Information Technology, Accounting and Finance. Doing so allowed them to form the shared support organization Network For Life (NFL).
Lifeline of Ohio and LifeCenter Organ Donor Network are two of the four federally designated organ procurement organizations (OPOs) serving the state of Ohio.
Creating NFL allowed Lifeline of Ohio and LifeCenter Organ Donor Network to look for other ways to reduce costs. With the help of HORAN's Steve Ashe, NFL formed a Multiple Employer Welfare Arrangement (MEWA) to facilitate quoting medical insurance together. Doing so saved both organizations hundreds of thousands of dollars.
Kent Holloway, Chief Executive Officer of Lifeline of Ohio, approached Barry Massa, Executive Director of LifeCenter Organ Donor Network, about the possibility of sharing a Chief Financial Officer (CFO). After seeing the success and
How You Can Help Register to become an organ donor today by visiting lifelineofohio.org or lifepassiton.org.
Being able to share certain costs allows both Lifeline of Ohio and LifeCenter Organ Donor Network to put more money into other areas of their organizations such as outreach campaigns to help spread awareness about their life saving mission. "Organizations like Lifeline of Ohio and LifeCenter Organ Donor Network connect the dots between a community and people who have the opportunity to register as an organ, tissue and eye donor," said Holloway. Since forming NFL, both organizations have been able to spend more time focusing on what matters most. "Our donor family members, living donors and transplant
4
COMMUNITY IMPACT
Photo Credit: Lifelife of Ohio
Volume 21
Photo Credit: LifeCenter Organ Donor Network
recipients personify our mission," said Massa. "The most rewarding part of what I do is seeing recipients who are alive because of someone saying yes to organ donation, that is what it is all about." Organ donation is a cause near and dear to HORAN. Last year the father of Rebecca Mock, Client Specialist at HORAN, received a transplant after being diagnosed with a rare genetic disorder that affected his liver. "The doctors told us in the spring of 2018 that my father would likely not make it to Thanksgiving if he didn’t get a transplant. I reached out to LifeCenter to learn more about the process. Knowing they were a client of HORAN's and having that familiar connection was so helpful because I already knew they were going to be able to walk us through every step of the way," said Mock. "I got the call in June 2018 that LifeCenter had a match for my dad. After his successful surgery, my dad wanted to reach out to the family of the donor who saved his life to personally thank them. LifeCenter was able to help him do that and it was such a rewarding experience."
Steve Ashe Vice President, Account Management
Emily Lehn Account Manager
Photo: John Mock, father of HORAN's Rebecca Mock, with the family of the organ donor who saved his life.
5
health.wealth.life.
forward thinking
Using Data to Be the
superhero of your Health PLan
Congrats to the 2019 HORANalyticsÂŽ Heroes
6
Volume 21
For a typical U.S. employer, health care often represents the second largest operating expense after employee wages. According to the Society for Human Resource Management, the cost of employer-sponsored health care benefits is expected to approach $15,000 per employee next year. We held a HORANalytics® Superhero Workshop earlier this year to help employers understand how they can impact employee health and health plan financials. For example, a recent HORANalytics® study found that individuals who visit their primary care physician (PCP) each year are two times more likely to get age-appropriate screenings. By encouraging and/or incentivizing your employees to visit their PCP each year, you can make an impact on the degree to which catastrophic claims affect your health plan. During the workshop, we discussed additional ways employers can be the superhero of their health plan using HORAN as their guide to build a strategic action plan founded on data.
The presenters also debunked the three most common misconceptions they see pertaining to health care data.
1
Myth: Having access to data is the differentiator. Truth: The insight, expertise and action are the differentiators.
2
Myth: Taking action isn't worth the disruption or investment. Truth: Action drives better outcomes for individual health and plan financials.
3
Myth: This doesn't apply to me or my organization. Truth: Small or large, fully insured or self funded, using data to achieve better outcomes applies to all. Take action! At the end of the Superhero Workshop, we recognized three organizations who have seen epic success using data to drive the future strategy of their health plan. The 2019 HORANalytics® Heroes were the Cincinnati Zoo & Botanical Garden, Wright-Patt Credit Union and Ernst Enterprises, Inc.
Want More Data?
Visit bit.ly/HORAN_DataHub and also follow us on your favorite social media platform @HORAN1948 for #DataTuesdays!
7
health.wealth.life.
WORKING KNOWLEDGE
THE POWER OF
Compound INterest + STRATEGIC RETIREMENT PLAN DESIGN Albert Einstein once noted that the most powerful force in the universe is compound interest. In simple terms, compound interest means that you begin to earn interest on your income, resulting in your money growing at an ever-accelerating rate. In other words, if you save $300 each month and earn 10% in interest, you have $330. Then, if you earn 10% of interest on that, you end up with $363. And so on and so forth until you have a very hefty sum of money. After 35 years, saving $300 a month amounts to $126,000 in principal but because of compounding interest, your account balance will have grown to over one million dollars! All thanks to the most powerful force in the universe.
"Compounding interest is the 8th wonder of the world. He who understands it... earns it. He who doesn't ... pays it." - Albert Einstein
CLIENT SUCCESS STORY A manufacturing company with a diverse workforce was struggling to get employees involved in their retirement success and came to HORAN for help. HORAN collaborated with this employer to assemble a multifaceted retirement plan strategy with on-site education and automatic plan features that would instill better saving philosophies for their 120+ employees.
EMPLOYEE PARTICIPATION Increased to 90+% participation in 18 months
+
AUTOMATIC FEATURES Auto-Enrollment, Auto-Increase, Safe-Harbor for Employer Match
=
RETIREMENT READINESS Total plan asset balance increased by 15% in 18 months
IN CONCLUSION... Your employees' retirement readiness can be greatly impacted by the power of compounding interest and getting people engaged early through strategic plan design. Employees who are automatically enrolled in the plan will start saving earlier which leads to a longer timeline of savings and, therefore, a higher amount of savings available at retirement. By incorporating automatic features into your retirement plan design and educating on the importance of saving, you can help your employees be prepared for a successful retirement.
8
Volume 21
TRENDING NOW
"Succession" Season 1, Episode 1 (debut 6/3/18): Jeremy Strong, Brian Cox. photo: Craig Blankenhorn/HBO
Lessons to be learned from hbo's hit show "Succession" HBO's hit show "Succession" has recently brought the importance of business succession planning into the public eye. Now in it's second season, "Succession" follows Logan Roy, owner of a global media conglomerate— Waystar Royco, and his children as they fight for control of the company when he falls ill. Perhaps if Waystar Royco had a plan in place before Logan's health declined, the family would not have fallen into dysfunction. But that wouldn't make for good TV. Fictional companies aside, most business owners should have a plan in place. Succession plans are commonly associated with retirement, although they also serve an important function earlier in the business lifespan: If the unexpected (disability or
death) happens, a succession plan can help reduce headaches, drama and monetary loss during periods of transition. As business owners approach retirement age, it is never too soon to outline a succession plan. But retirement is far from the only force pushing proprietors out of ownership. Unexpected life events can happen at any age, and a succession plan ensures the right people inherit the business, operations continue to run smoothly and owners are able to exit under fair circumstances. In other words, proper succession planning is an absolute must and should begin on day one of ownership, if not before. Ignoring important issues involving your business will not make them go away. It is not easy to think about challenging issues but
putting off planning and ignoring problems will not give you peace of mind. Now is the time to start planning. Whether you are nearing retirement age or just setting up shop, business owners should take time now to build a succession plan that protects your business' longevity and secures your financial future. Contact HORAN to review or build your succession strategy.
Greg Hoernschemeyer, CLU Senior Vice President
9
health.wealth.life.
WELLNESS WORKS
creating a Community culture EMBODIES SPIRITof OF
WELLNESS A
merican Trim, founded in 1951 as Lima Tool and Die, is a leading metal form supplier to the appliance, transportation, architectural, sports and leisure industries. They are recognized not only as an innovator in what they deliver to their customers, but also as an innovator in the wellness program they offer to their employees. Headquartered in Lima, Ohio, American Trim employs approximately 650 employees. In 2016, after a few years of rising health care costs due to high claims and lower than average preventive care participation, American Trim partnered with HORAN. In order to continue to offer a competitive health care benefits package to recruit and retain employees, Kim Stewart, Benefits Manager at American Trim, launched a wellness program to address some of the plan's cost drivers.
"Our emergency room utilization and catastrophic claims were high. We also had a high number of employees and members on our plan without a single claim filed in an entire year," said Stewart. "To address those factors we wanted to incentivize engagement with a primary care physician for our plan members to get their annual physical and have conversations about age and gender preventive screenings." After starting the wellness program and seeing low engagement, Stewart and American Trim restructured the focus and incentive design resulting in record participation the following year. All plan members must receive an on-site biometric screen and a primary care physician (PCP) exam. *Photo Credit: American Trim
10
Volume 21
WELLNESS WORKS Employees now receive premium discounts by participating in the voluntary program requirements of completing their biometric screen and engaging with their PCP. If an employee's spouse does not participate, the employee does not get credit for their screen or PCP exam and, therefore, does not receive the discount. In 2018, an additional component was added to test for nicotine as a part of the biometric screen. Tobacco cessation programs are available at no additional cost for employees and their spouses. Additionally, on-site health coaching is provided to employees during the work day to set goals and develop an action plan for improved health.
American Trim has achieved 82% participation for employees and spouses since launching their program in 2016. "HORAN provides us with data analytics around gaps in care, claims, emergency room utilization and also around our employee engagement before and after we implement different plan elements," said Stewart. "They have also helped by connecting us with wellness vendors who help us track biometric screens and PCP visits." Since launching their wellness program in 2016, American Trim has achieved 82% participation for employees and spouses. Participation in PCP visits and other preventative screenings also has skyrocketed.
They have also experienced year-over-year cost trend stabilization and improved clinical results for metabolic syndrome, which is a cluster of conditions that occur together, increasing an individual's risk of heart disease, stroke and type 2 diabetes. American Trim employees have also had individual wellness successes. As a part of their biometric screen process, all men over the age of 40 automatically receive a Prostate-specific antigen (PSA) test, which screens for Prostate Cancer. Since starting this additional screening, four employees had early detection of their cancer and were able to take immediate action. Stewart plans to continue to expand the program and add additional age and gender screenings for plan members.
Judi McKie Vice President, Benefit Consultant
Rakel Keane Health Management Director
American Trim's Wellness Program Highlights Three year average renewal of <0%
82% participation in wellness program
Four Early Detections of prostate cancer 11 11
health.wealth.life.
TRENDING NOW
A CONVERSATION WITH FC CINCINNATI'S JEFF BERDING In January 2019, HORAN and Graydon launched The Bridge Series hosted on the first Friday of every month. The monthly series was designed to bring organizations and the community together to discuss topics such as art, community development, health and wellness, education and more. Visit bit.ly/bridge_series for more information.
KICKIN' IT IN THE QUEEN CITY In September, Jeff Berding, President of FC Cincinnati (FCC) joined us to talk about the club’s journey since forming in 2015. Below are excerpts from that conversation. Tell us the FC Cincinnati Story. Jeff Berding (JB): Soccer is the sport of the future. I wanted my kids to have a team of their own to root for in their hometown. I got a phone call in January 2015 from Carl H. Lindner III and he indicated that he was also very passionate about soccer. This conversation ultimately led to our partnership. FCC began to play in the United Soccer League (USL) in 2016. The club won the 2018 USL Regular-Season Championship in record-setting fashion and earned postseason berths in all three of its USL seasons. Major League Soccer (MLS) invited FCC to the league as an expansion team in May 2018, giving the club one of the fastest run-ups to its firstdivision launch in league history. We had exactly 277 days to prepare for our first MLS match which took place on March 2, 2019. What are some of the proudest accomplishments you’ve seen the team achieve so far? (JB): The 2019 season was not our best year on the soccer side. I can say, however, that in FCC's inaugural MLS season, we have sold the second-most team merchandise in MLS. We had the thirdhighest attendance, and the most for any team not playing in an NFL venue. We have some of the most loyal and enthusiastic fans in MLS, which has been noted globally by some of the images and videos that have come out of our games. We are very grateful for this support.
What are your goals for the future? (JB): Four years ago, when we launched FCC, we had three core values: be family-friendly, be visible in the community and be a winning team. We’ve excelled at the first two values. Now we shift our full attention to improving our on-field product in 2020. Our goal for a year from now is to be in the MLS Cup Playoffs and use that momentum as we open West End Stadium in 2021. How do you make an impact in the community? (JB): I think every community-minded organization has to decide what is the most appropriate way for them to get involved in their local community. I am proud to say that as a first-year MLS club, we have the largest community relations and foundation staff in the league. That’s how important our community activism is to us. Our FC Cincinnati Foundation (FCCF) has launched five major fundraising platforms, including the “Learning Is Cool” program–formerly part of the Marvin Lewis Foundation. All of our programs will help us invest more than one million dollars into the greater Cincinnati community in our first year. We have already reached more than 35,000 children in the Greater Cincinnati area and we’re looking forward to making an even greater impact in the future.
YEAR IN REVIEW Thank you to all of the leaders who spoke with us this year and inspired us by what they are doing in the community. Mayor John Cranley of The City of Cincinnati
Coming Up!
Join us in November to hear from Brent Cooper of the Northern Kentucky Chamber of Commerce and in December for a special holiday giving event.
Elizabeth Pierce of the Cincinnati Museum Center Thane Maynard of the Cincinnati Zoo and Botanical Garden Paula Brehm-Heeger of The Public Library of Cincinnati and Hamilton County Craig Brammer & Kiana Trabue of The Health Collaborative Beryl Love of the Cincinnati Enquirer and Eddie Tyner of Gannett Eric Weissmann of Cintrifuse and Siôn Williams of Roadtrippers
12
Jeff Berding of FC Cincinnati Dr. Chillo of Thomas More University & Dr. Vaidya of Northern Kentucky University
WORKING KNOWLEDGE
Volume 21
BIASES IN INVESTING We are all subject to biases that can impact the way we make investment decisions. Behavioral Finance is the study of how psychology impacts investor behavior. This relatively new field assumes that investors are not perfectly rational. Behavioral Finance breaks our biases down into two categories: cognitive and emotional. Cognitive biases are mistakes we make when analyzing or processing new information. Emotional biases stem from our feelings or impulses. Below we break down some of the most common biases and what you can do to mitigate the impact they may have on your decision making.
COGNITIVE BIASES HINDSIGHT BIAS: Makes past events seem more obvious than they really were at the time. Many investors look back at past market bubbles and say, â&#x20AC;&#x153;I knew it was a bubbleâ&#x20AC;?. If bubbles were that easy to spot, they would never have occurred in the first place. CONFIRMATION BIAS: Behavior in which investors seek out information that validates their existing opinions and ignore information that goes against their beliefs. For example, a bullish investor only focuses on good news and a bearish investor only focuses on bad news.
HOW TO OVERCOME Remind yourself that no one can predict the future, especially when it comes to markets. Seek out contradictory information and write down your thought process when investing.
Do any of these sound familiar? These biases are all part of what make us human and, unfortunately, tend to be relied upon in difficult markets. The first step in becoming a more successful investor is to identify any potential biases and work to mitigate them over time.
EMOTIONAL BIASES LOSS AVERSION: Bias that stems from the idea that investors fear losses more than they enjoy gains. In this bias, investors tend to hold on to losers longer than they should in the hope that the position will become profitable. ENDOWMENT BIAS: Emotional attachment to an asset, most often when inherited. Investors tend to value inherited positions at a higher value than they are worth in the open market.
HOW TO OVERCOME Develop and follow a disciplined investment strategy that will lay a framework for evaluating your portfolio.
Matt Antenucci, CFA Portfolio Manager
Another way investors can reduce bias is to work with an investment manager to remove emotion from the equation. HORAN Capital Advisors takes an independent and objective approach to deliver long-term success for our clients.
13
health.wealth.life.
FORWARD THINKING
IBX is transforming the way you buy insurance Old school RFPs have been rendered a relic of the past! HORAN has significant success securing life and disability benefit coverages through an online procurement known as The Insurance Brokerage Exchange (IBX). IBX is a proven method designed for benefit firms to provide large employer clients with a comprehensive Contract and Service RFP to review their existing employee benefit lines. The process engages the entire marketplace to maximize purchasing power resulting in bestin-class contract and service at the most competitive market price. Through the IBX process, RFPs have been conducted on 3.8M lives, 1,800 lines of coverage and in excess of $800M of annual premium with both external and internal producers. IBX replaces the traditional RFP process by creating efficiencies in insurance products by allowing clients: • The opportunity to see if pricing can be reduced without waiting until renewal time. • Access to only qualified carriers that meet all contract specifications outlined by the client. • Access to more markets for the most competitive products. • Receive timely, competitive bids. • Understand carrier pricing behaviors.
EXPERTISE. IBX controls contract
specifications to ensure you purchase only what you want from qualified carriers.
14
LEVERAGE. Incumbents compete from day one with other qualified vendors.
EFFICIENCY. Online evidence of
insurability, conversion management and electronic billing feeds.
HORAN is one of only 21 benefit firms in the country (and two in Ohio) with access to IBX.
Volume 21
IBX in ACTION Employer Profile: Transportation l 53,000 Employees l Multiple US Locations Scope: RFP for Life, Voluntary Life, Short Term Disability and Long Term Disability Insurance Lines. Solution: Insurance Brokerage Exchange
1
Identified Client Goals and Objectives
2
Collected All Data
3
Leveraged Insurance Brokerage Exchange to Build the RFP and Obtain 19 Quotes from Carriers
4
Selected Top Contenders
5
Conducted Finalist Meetings to Understand Key Features and Benefits
6
Collaborated with Client to Ensure Key Requirements were Met and Goals were Achieved
7
Changed Carrier with HORAN Facilitating Implementation
Judi McKie Vice President, Benefit Consultant
Results achieved Annual savings of
$1,001,794 for employer (total savings of $3.5M).
43 month
rate guarantee to align with other benefit renewal timing.
Streamlined administration by creating
flexibility
the to change benefits when union contracts are updated.
15
health.wealth.life.
WORKING KNOWLEDGE
CAREER. CULTURE. COMMUNITY. At HORAN, we strive to grow our careers; we contribute to and flourish from the culture; and we are committed to positively impacting the communities where we live and work. David Templeton, CFA, Portfolio Manager & Principal at HORAN Capital Advisors, talks about the impact that Career. Culture. Community. has had on him.
David Templeton, CFA Portfolio Manager & Principal HORAN Capital Advisors www.horancapitaladvisors.com/blog @HORANCapitalAdv bit.ly/DavidTempleton David authors the HORAN Capital Advisors blog, "Disciplined Investing", where his passion for research, client education and writing come together. Connect with David on the blog, Twitter and LinkedIn.
Why are you passionate about what you do at HORAN? I enjoy working with clients who appreciate the services HORAN offers that go beyond investments. Our clients can leverage other resources in the firm whether it is for health care, executive benefits, financial planning or life and disability insurance needs. I really appreciate the opportunity to work with clients who value the holistic approach that HORAN provides. What elements of HORAN’s culture make you proud to work here? I value the strong reputation that HORAN has in the community. This reputation is important to me and what I do; it is what originally drew me to work here. Additionally, HORAN truly embodies the “work hard, play hard” spirit. If you get the job done, they expect you to take time off and enjoy yourself outside of the office. This value is demonstrated through our “open paid time off” policy. It says a lot about an organization to trust your people enough to get their work done and manage their time off. How are you involved in the community? Historically, I have served the community in various volunteer activities, and most recently, serving on The Madeira City Schools Board of Education for eight years. I am a firm believer that it is important to find something in your community that gives you an opportunity to give back whether it is with time, finances or in another way – it is important to consider in what way you can give back. It creates a better place to live and work.
16
"It is important to consider in what way you can give back. It creates a better place to live and work."
Volume 21
TRENDING NOW
CELEBRATE GOOD TIMES... COME ON! DAYTON BUSINESS JOURNAL'S HealThiest Employer
Best PlaceS to Work by the CINCINNATI BUSINESS COURIER
Dayton Business Journal's annual Healthiest Employers Awards event recognizes companies that make wellness a reality for their employees. We were honored to be named a 2019 Healthiest Employer.
Every year the Cincinnati Business Courier recognizes Cincinnati-area employers that have the most engaged workforces with the Best Places to Work award. The award is based on the results of anonymous employee surveys, measuring employee trust in management and coworkers, work-force engagement and finding out how employees feel about management effectiveness, trust and commitment to professional development.
“We work hard to promote workplace wellness to enhance the wellbeing of our employees and set a good example in healthy living for our clients, the community and our families,” said Terence L. Horan, President and Chief Executive Office of HORAN. “We congratulate all of the other organizations being recognized.”
Julie Highley (right) celebrating her 25th anniversary at HORAN.
HORAN is proud to have been named a 2019 honoree.
Our first annual blood drive with Hoxworth Blood Center.
2019 United Way Campaign
Employees enjoy a day in costumes to conclude the United Way Campaign.
During HORAN's 2019 United Way Campaign employees raised over $132,000 with 90% participation. To kick off this year's campaign, HORAN welcomed our friends at Brighton Center to share how their organization is impacted by United Way giving. The campaign concluded with a "Keep Things Fun" themed party where employees were invited to dress in their costume of choice for the day.
Client Specialist Team Outing at Winton Woods Adventure Outpost.
HORAN Named One of 75 Family & Private Businesses Recognized as Best in Class Each year nearly 500 businesses are nominated for the Goering Center Family & Private Business Award, honoring businesses that exemplify the best in family and private business practices. This year HORAN was selected as one of 75 semi-finalists for the award. HORAN was honored to be recognized as one of three finalists for the 101+ Employees Private Business Division. 17
health.wealth.life.
Client Spotlight
A culture worth copying M
odern Office Methods (MOM) and HORAN's partnership dates back to both companies' founders. Robert McCarthy and Jack Horan were good friends and supported each other in business for decades. The good relationship between MOM and HORAN remains in tact all these years later.
Julie Brucato, Human Resources Director, and Julie Italiano, Marketing Director, work to achieve this vision by focusing on hiring a diverse workforce, training employees on how to best interact and communicate with colleagues and tailoring workforce initiatives and communications to meet all needs.
There are numerous reasons that make MOM stand out as a great company. Too many, in fact, to even capture in this article. However, there are three that really stand out to us: a thriving workplace culture, the importance of employee wellbeing and community involvement that makes a true impact on the region.
MOM believes that each of their 250 employees plays a role in their workplace culture.
Following in his father's footsteps, Kevin McCarthy has grown MOM significantly since becoming current President & CEO. McCarthy expanded MOM's service offerings to what they are today which include office equipment, managed print services, managed Information Technology scanners, document management and device security. Along with enhancing capabilities and expanding the market footprint (MOM currently serves clients in Ohio, Kentucky and Indiana), a large part of McCarthy's vision is to cultivate a thriving workplace culture.
18
"All MOM employees take a Predictive Index evaluation upon interviewing with the company to ensure we hire the right person for the right job," said Brucato. "The Predictive Index has also been woven into our corporate training to help employees understand the wide variety of work styles that exist at MOM. Companies need a diversity of work styles and we want to ensure we build that and train people to understand the science of influence, behavior change and effective approaches for responding."
Client Spotlight
Volume 21
MOM believes that each of their 250 employees is responsible for their workplace culture. As a result of this approach, MOM places high value on their employees' overall wellbeing. MOM partnered with Maggie Gough, President of Realize Wellbeing, to help bring this goal to life. After meeting oneon-one with employees, MOM's wellness initiatives evolved based on what people were looking for, which resulted in a shift in culture and morale. "A key element of focusing on employee holistic wellbeing is to provide them with opportunities to make a difference in their community which creates a sense of purpose," said Gough. MOM offers numerous community impact initiatives for their employees to participate in throughout the year. Two causes that are very important to MOM are the Cincinnati Community Toolbank and their Teacher of the Week program. The Cincinnati Community Toolbank is a nonprofit tool lending program that provides fellow not-for-profit organizations with year-round access to an inventory of tools for use in volunteer projects, special events, facility repairs, grounds maintenance and much more. They provide tools to enhance the charitable sectorâ&#x20AC;&#x2122;s capacity to serve, facilitating hands-on volunteerism in the greater Cincinnati area. Additionally, MOM partners with radio station WARM 98 and WLWT Channel 5 News to recognize area teachers as a part of their Teacher of the Week program. Each week a new deserving teacher receives a goody bag from MOM, a $50 Visa gift card from Brain Balance, flowers from HJ Benken Florist and Greenhouse and the teacher's class gets to give a "shoutoutâ&#x20AC;? on Channel 5 News. Over the past decade more than 150 area teachers have been recognized as a part of the program. "MOM has made a significant investment in our culture through our corporate wellbeing initiatives," said Italiano. "We have a culture that leans into the collective responsibility of all employees to cultivate a thriving workplace, which in turn delivers meaningful service to our clients. That service nurtures our employeesâ&#x20AC;&#x2122; sense of purpose and belonging to something bigger."
Keith Howorka HORAN Account Manager for Modern Office Methods *Photo Credit: Modern Office Methods
19
PRESORTED STANDARD US POSTAGE PAID CINCINNATI OH PERMIT # 8093
4990 East Galbraith Road Cincinnati, Ohio 45236
Horan Securities, Inc. is a Registered Broker/Dealer and a Registered Investment Advisor, member FINRA/SIPC. Horan Wealth and Horan Capital Advisors are an SEC Registered Investment Advisor. Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results. Market conditions can vary widely over time and there is always the potential of losing money when investing in securities.
800.544.8306 www.horanassoc.com
Cincinnati, OH Columbus, OH Dayton, OH Fort Mitchell, KY