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Bridging the divide   How funeral homes can leverage the diverse experiences of five generations. By Stephanie Ramsey How can the information we know about the various generations help funeral service owners and managers? Let’s consider various scenarios for attracting employees for certain positions in which a specific generation might be a good fit. Baby boomers. Latchkey kids. Millennials. The Silent Generation. These terms referring to the different generations have been bandied about for years. Let’s look at their impact on the funeral service industry. It’s not news that funeral business owners have complained about not being able to find the kind of quality employee they did years ago, which points to the fact that generational issues are indeed impacting the industry. Perhaps gaining insight on these different generations will provide funeral service employers a clearer path to identifying and retaining […]

Let’s Talk Seriously About Accounting By Mandy M. Rohde and Daniel M. Isard This profession is largely made up of caregivers. As such, you focus on the needs of the families in your community more than the needs of your own family. We get it. Profit margins have gone down since the 1980s. The average profit for a privately-owned business has fallen by almost 60 percent from about 14 percent of revenue to 6 percent of revenue. Our studies conclude that this is due to four factors: The Federal Trade Commission’s mandated Funeral Rule and the creation of an itemized General Price List. The rise in cremation and the inability to determine how to price for it. The rise in preneed with the limited crediting rate on accounts. The lack of desire on the part of the 10,000 owners of […]