 Careful With Profit Sharing Many companies have realized that giving their people a share of the profits makes good business sense. In fact profit-sharing is one the distinguishing characteristics of profit leaders in our industry versus profit laggards. Caution should be exercised, however.
Profit sharing works fine if it is done through an appropriate form of plan like a 401 (k) or other tax deferred vehicle. However, it's tempting to bypass this and just give your employees a check, particularly since money in their pocket is more real than a piece of paper showing a balance.
What may actually be occurring, however, is a 'non-discretionary bonus" under the Fair Labor Standards Act (FLSA). This is particularly likely if the bonus is based on a formula - e.g. five percent of pre-tax profit, and is payable at regular intervals, e.g. every quarter or at the end of year holiday party.
If such a payment is made to an hourly employee, it changes their "regular rate of pay" and therefore their payment for overtime. For example, if a 40 hour employee received a $1,000 bonus of this kind, it would raise their "regular rate of pay" by 48 cents per hour ($1,000/2080 and they would have to receive another 24 cents per hour for any overtime worked during the period of the bonus. This can add up quickly.
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 Top 10 Causes of Workplace Injuries
Overexertion and falls account for more than $25 billion in workers compensation costs in the U.S. each year, according to Liberty Mutual Research Institute for Safety's 2014 Workplace Safety Index. In its 15th year, the annual ranking of top 10 causes of serious, nonfatal workplace injuries is based on the company's workers' compensation claims data and data from the Bureau of Labor Statistics and the National Academy of Social Insurance. The Research Institute examine 2012 claims data (the most recent available) for injuries lasting six or more days and ranked the injuries by total workers compensation costs. The top 10 leading causes and direct costs of workplace injuries were the following: - Overexertion:$15.1B (25.3%)
- Falls on some level: $9.19 B (15.4%)
- Struck by object or equipment: $5.3 B (8.9%)
- Falls to lower level: $5.12 B (8.6%)
- Other exertions or bodily reactions: $4.27B (7.2%)
- Roadway incidents involving motorized land vehicle: $3.18 B (5.3 %)
- Slip or tip without fall: $2.17B (3.6%)
- Caught in/compressed by equipment or objects: $2.1B (3.5%)
- Repetitive motions involving micro-tasks: $1.84B (3.1%)
- Struck against object or equipment: $1.76B (2.9%).
Forewarned is forearmed.
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 Procrastination: A Common Estate Planning Mistake
Estate planning is one of those things we don't really want to think about, and it's easy to put off. However, if you don't take the time to create an estate plan, the state will do it for you. If you die "intestate" (without a will), you are by default, choosing to have your assets divided according to state law. In all likelihood, the state's plan may not be the plan you would have established for your family. Your spouse may only receive a fraction of your assets and your children will receive their share outright only at the age of majority. Procrastination can guarantee that your estate will pay the highest estate taxes possible - if steps are not taken to minimize them. After all the time you have spent building your business, isn't it worth some time to plan for its future? At WSPA-endorsed Federated Insurance, you can access a professional team approach using a network of independent estate planning attorneys to effectively assist with your estate and business succession planning needs. For more information, call 1-800-533-0472. |
Vinyl Makes A Comeback: Yay For Print!
To everyone's amazement vinyl is coming back. In a world where digital downloads seemed to reign supreme, vinyl records are growing again. One Southern California printer on the brink of financial difficulty now has a booming business producing record sleeves and vinyl labels.
Why the resurgence? Nostalgia perhaps but just like with any printed piece, you can hold the album in your hand - something an iTunes download cannot provide.
It's a perfect illustration of the unique power of print - its tangible and real. Because of that it can gain and hold your attention in a way that an email can't (if your spam filter even lets you see it in the first place). More and more clients with a message to deliver and products to sell are coming to this realization. They need print as part of the mix!
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ASK DR. B.
Led by Dr. Mark Bohan and his team of experts at the Center for Technology and Research at PIA, Ask Dr. B is a resource that features the responses to questions covering a wide gamut of topics. If you would like to ask a technical question, simply email Dr. Bohan at mbohan@printing.org or call PIA's toll-free hotline at 1-800-910-4283.
When printing on a metalized paper, are there special inks required?We recommend high-solids formulation, which will have VOC content under 10 percent. We also recommend running the minimum amount of fountain solution possible with an added drying simulator. Also keep delivery piles small. It is always good to send stock samples to your ink supplier. The non-porous metalized paper would have similar printability to a plastic substrate. How is paper brightness measured?Paper brightness is measured by comparing the amount of light reflected from the paper to an ideal white standard. The measurement is taken at 457 nm and is expressed a percent reflectance. Generally speaking the brighter the paper, the greater the potential color gamut that can be reproduced, the higher the grade and cost. How can I stop creasing on my sheets?Creasing may be caused by many effects including temperature and humidity. Ensure that your paper is stored in the correct conditions. Following this evaluate press settings to identify the cause. Is the coating weight of paper different than the basis weight? Yes, the basis weight is the weight of 500 sheets at a specific sheet size, coating weight is the number of pounds of dry coating applied to 500 sheets of 25x38 inch paper.
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 Limited Spots Available for Sales Workshops in Phoenix and Denver Every company wants to grow profitable sales and help their teams improve the bottom line. Successful selling is key to this objective. Whether an industry newbie or seasoned pro this program will help you (or your sales professional): - Improve selling skills
- Successfully navigate the relationship management process with clients
- Earn long-term profitable accounts!
Workshop Leaders  Facilitated by WSPA CEO Michael Makin, this session will use virtual technology from PIA's Integrated Learning Center, where participants will combine interactive learning using streaming video with face-to-face dialogue. Course content provided by Leslie Groene, a coaching superstar in the world of corporate sales as well as a business consultant and author. Her background is in the paper and printing industries as a sales rep and sales manager. The WSPA member price to attend either session is j ust $39 but r egistration is limited to the first 20 participants in each location. To register for the June 16th program in Phoenix, CLICK HERE. To register for the June 18th program in Denver, CLICK HERE. |
 Denver Golf Tournament
We have our date and location for the Denver Golf Tournament! Friday, August 28, 2015 at the Heritage Eagle Bend Golf Club.Described by Golf Digest, as "one of the best places to play in Colorado," the Arthur Hills designed course is a links-style 18-hole championship course that makes use of dramatic elevation changes, native areas, panoramic views and wide, accommodating fairways to appeal to players of all levels. Tickets are only $125 and include greens fee, golf cart and lunch. Foursomes and individual tickets will sell out fast so be sure to sign up ASAP. Interested in sponsoring the tournament? Contact Sandi Neuman at 720-398-6907 or sandi.neuman@visiongraphics-inc.com.
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 Phoenix Tourney Only Three Months Away...What Are You Waiting For?! After a year's absence the ever-popular WSPA Phoenix Golf Tournament will return with a vengeance on Saturday, September 19, 2015 at the stunning Arizona Grand Golf Resort.
Join colleagues and friendly competitors from the industry for a day of fun on the links followed by the Par-Tee on the Green, where bragging rights will be on display and awards presented.
Tickets are only $99 and include greens fee, golf cart, lunch and two drink tickets. Foursomes and individual tickets will sell out fast so be sure to register as soon as possible!
REGISTER HERE
Sponsorship OpportunitiesInterested in sponsoring the tournament? There are numerous opportunities still available including individual hole sponsorships - many helping to support future GCEF Scholarships. For details contact tournament chairman Gary Matchinsky at 480-829-8890 or garym@bctarizona.com |
 WSPA is only as strong as its membership base and wants to continually grow to service its members. You can help by being an ambassador and referring potential members our way!
What's in it for you for spreading the word? If you refer a member and they sign up, we will send you a $50 gift card. In the last three weeks two members have already taken advantage of this program. What's stopping you?
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Weekly Photo Feature:
ARE YOU KIDDING ME?
Each week E-Connects will share incredible photos on just how lax individuals can be when it comes to safety.
The goal - to keep a safe work environment front and center on the minds of all of your employees.
Sometimes ingenuity is not the mother of all invention...
If you come across a funny safety pic you think should be featured, email Michael Makin at mmakin@wsprint.org.
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Quote For The Week
"I'm convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance."
Steve Jobs
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