Revamped suggestion system saves MDAC millions of dollars annually

Article Abstract:

The Employee Suggestion Program (ESP) at McDonnell Douglas Astronautics Co. started at the beginning of this century, but was revitalized in 1980 to cope with the need to improve the way the company was doing business. Thus, the 'Five Keys to Self-Renewal' were adopted which involved human resource management, strategic management, participative management, ethical decision making, and productivity-quality improvement. Quality circles were formed, and a suggestion tracking system was developed by using Application System software from the IBM Information Network. The software improves telephone response time, improves program management, and produces a monthly suggestion program savings report for the company. ESP has saved the company over $2.5 million in 1985, has doubled employee suggestions for over three consecutive years, and has revealed problems at the technical, process, and personnel levels.

Guided missiles and space vehicles, Usage, Software, Job satisfaction, Employee suggestions, Quality circles, McDonnell Douglas Astronautics Company

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Trim health care costs with employee audits of hospital bills

Article Abstract:

Methods of auditing and verifying the correctness of health care costs before paying them are discussed for administrators of employer-paid health care plans. Hospital billing errors and physician billing errors are not uncommon; they result when services are billed prior to being delivered, medical supplies are incorrectly recorded, decreasing care levels are overlooked, key punching errors occur, and billing systems are inaccurate. One way to catch such errors prior to payment is the institution of employee self-audit plans, in which employees receive 25 percent of any money they save the corporation by locating such errors. Employers should also consider billing accuracy as a prerequisite when selecting preferred provider organizations (PPOs).

Accounting and auditing, Medical care, Cost of, Health care costs

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Defined benefit plans that look like defined contribution plans

Article Abstract:

The pluses and minuses of hybrid benefit plans such as cash balance plans and perc plans are examined. Advantages include guaranteed interest, greater benefits for job changers, little change in accounting practices for the company, communications value, and past service credits. The disadvantages are that the plans may disappoint long term employees and overachievers. These plans favor younger employees, and may not be for all companies. Alternative employee benefit plans are discussed.

Management, Profit sharing

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