How much does your workman’s comp cost you? What are you classifying your employees as? What are you subs classified as? Did you know that core tasks dictate classification and different classes have different rates? Someone in the field using dangerous power tools will cost you far more than someone in an office sitting at a computer. How do you figure out when you can change a classification and is all this penny pinching really worth it?
Brad Lenz and his wife Kerry own Rice’s More Than Floors which they acquired in 2016 from his parents. The store has a beautiful history dating back to 1968 where it started as a furniture and appliance business, later adding carpet. After finishing high school Brad started a tile installation business in 1998 and started adding employees in 2016. This was when the installation business and flooring store merged. The merger began a focus on technology and cloud based software to improve their systems and processes. Brad’s natural gift for problem solving has also helped find small ways to be more profitable along the way. One successful change implemented has been how employees are classified while they are working and making sure it is accurately kept track of.
Listen in to this week’s episode of the Floor Academy Podcast as Brad and I discuss how you can be more profitable with one simple change to how you classify your employees depending on the task they are working on.
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