October 27, 2021
Published by 
Curtis Rostad on October 27, 2021
Curtis Rostad on October 27, 2021Most employers are at least aware of the issue of independent contractor versus employee. But making the determination has never been clear. The Department of Labor issued a final rule clarifying the standard for independent contractor versus employee under the Fair Labor Standards Act (FLSA). That may sound encouraging, but it is doubtful that the rule consisting of more than 1,200 pages makes the designation any easier. In reality, the rule only clarified the factors to consider that are still open to interpretation. The effective date of the final rule was March 8, 2021. Why does this designation make a difference? There is a financial incentive to declare a worker an independent contractor. But declaring one independent does not make it so—under the law. If a worker is deemed to be an independent contractor, the employer is not required to […]
September 29, 2021
Published by 
Stephanie Ramsey on September 29, 2021
Stephanie Ramsey on September 29, 2021Scenario: Sally and Steve Mooney started Weacrematieu Cremation and Funeral Services 25 years ago. Located in the heart of a popular tourist area in the Southeastern United States, the local population continues to expand as jobs are readily available and the cost of living reasonable. Weacrematieu has experienced significant growth each year in the number of families it serves, which has created challenges for Sally and Steve in terms of hiring licensed qualified staff and creating attractive benefit programs to retain them. It has been difficult to find employees who see working at Weacrematieu as a “calling” rather than just a “paycheck.” To encourage employees to have long-term vision, some of the benefits require employees to be employed for extended periods prior to qualification, such as the retirement plan. Sally has created an employee handbook that provides a summary of […]
September 28, 2021
Published by 
Dan Isard on September 28, 2021
Dan Isard on September 28, 2021In last month’s issue, I explained what a business plan is and laid the groundwork for why you need to have one. This month, I want to take you deeper, so, instead of more theories, I asked two industry veterans to contribute their thoughts. The first is Steve Shaffer, CEO and president of Homesteaders Life Insurance Company. Shaffer didn’t start at the top of this company; he spent the past two decades in public accounting, joined a national acquirer as its CFO and then founded one of the top acquisition companies before leaving it to join the preneed world. I also spoke with Chris Cruger, managing partner at the company I founded, The Foresight Companies. He had a major background in finance and operations within the funeral business before joining Foresight. Today, he influences some of the most successful funeral […]
September 28, 2021
Published by Dan Isard on September 28, 2021
Dan Isard on September 28, 2021NFDA Consumer Awareness and Preferences Survey Commentary Complementary consumer surveys show three strong cultural trends for which you may need to adjust your business. Imagine you answer the phone and the voice says, “I have data compiled independently that will tell you what consumers are saying about funeral service and what they expect from a funeral provider.” You might cautiously ask, “Well, that’s all well and good, but how recent is this data?” The mysterious salesperson responds, “It is all from within the past year, tracking consumer changes since the advent of the COVID-19 pandemic.” Not wanting to seem too easy a sell, your next question would probably be, “Well, how much is this data?” To which the shadowy huckster replies, “It’s about $250,000, payable in one easy payment.” At that moment, you have an involuntary muscle spasm and hang […]
August 24, 2021
Published by 
Chris Cruger on August 24, 2021
Chris Cruger on August 24, 2021It’s time to decide whether you’ll evolve your business or prepare for succession. The reference to “growth” in the business world does not necessarily coincide with multiple acquisitions. What it does pair with is the word “evolve.” The Foresight Companies’ 2021 Funeral and Cemetery Consumer Behavior Study revealed that consumers are embracing completely new ways of doing things and have no intention of going back to the old ways. They are evolving, and so should we. Empirical insights from the study show this clearly: 74% of consumers expect to find prices online (66% expect to see products online as well). 47% of consumers will not do business with a firm if it does not provide pricing online (if there is an alternative). 32% of consumers’ attitudes about the profession have changed because of COVID. Consumer attitudes about the profession’s ability […]