September/October 2022

President's Message


Diversity & Inclusion Group (DIG) Update


  
Karen Lemke
President
Lemke Leadership

Registration for our fall breakfast event is open! Please review the information below and register today to join us:

Date: Thursday, November 3, 2022
Speaker: Karen Lemke
Topic: Positive Intelligence

Location: Foth | DePere
Time:  7:30 AM – 9:00 AM

Click here to register for this in-person event


Atomic Habits: Tiny Changes, Remarkable Results by James Clear

Our DIG Virtual Book Club Series has been postponed until spring 2023. We will read and discuss Atomic Habits by James Clear, so stay tuned for the virtual book club series dates in early 2023.

Click here to explore purchase options (hardcover, paperback, audiobook, etc.)

Peer Group Update


FEI Members, our fall virtual meeting will be held on Thursday, December 15th from 2:00 - 4:30 PM via Zoom. Help create the agenda by submitting your recommended topics within your online registration. Meeting details are included below:

Date:          Thursday, December 15, 2022
Time:          2:00 - 4:30 PM
Location:   Virtual - Zoom

Click here
to register! This meeting is eligible for 3 CPE credits to those that attend the entire virtual meeting and answer all 9 polling questions. The Winter Peer Group Meeting will also be held virtually via Zoom on Thursday, March 23, 2023 from 2:00 - 4:30 PM. Click here to register early!

Membership Update


Our 2022-2023 fiscal year events are underway, and we enjoyed seeing so many of you both virtually and especially in-person at our September 21st chapter meeting! We have five events planned during the months of October and November and look forward to reconnecting with you. In addition, we're pleased to welcome four returning members to the chapter as follows:


Jim Frederick
CFO
McDonald Companies


Nick Guerrieri
CFO
Krueger International


Josh Gretzinger
Director of Finance & Assistant Treasurer
Dixon Ticonderoga



Scott LaFond
Controller
Lindquist Machine Corporation

2022- 2023 Updated Program Schedules 


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Our 2022-2023 Program Schedules were distributed to all members and strategic partners via email on 8/31. There have been several updates over the past month. As a result, links to these updated documents are below:

2022-2023 General Program Schedule
2022-2023 Virtual Professional Development Program Schedule

As additional updates occur, these documents will be posted to our news page, and also linked to our page on the FEI National Website.

Special Features

Aon

Pooled Employer Plan (PEP) Update

Pooled employer plans (PEPs) have emerged as an innovative and powerful 401(k) alternative, allowing employers of all sizes to band together instead of going alone. Check out the power of PEPs by watching this short 4 minute video: The Power of PEPs

Into the Deep End: The Big Splash of Pooled Employer Plans is a new episode of the American Benefits Podcast, where host Jason Hammersla is joined by Rick Jones, senior partner in Aon’s Wealth Practice. Together they discuss the state of employer plan sponsorship, barriers to plan formation and how PEPs can improve the environment for plan sponsors.

This recent article from Bloomberg Law, Excessive Retirement Fees Suits Jump-Start Pooled-Plan Activity, explains how US employers increasingly are turning to pooled retirement plan designs to avoid the risks and costs associated with a rising tide of class actions over fees for workplace 401(k) investments. Rick Jones discusses the high cost of uncompensated risks associated with managing 401(k) plans. “I think, increasingly, employers will conclude that the investment lineup, while very, very important, isn’t something that they’re going to create value for themselves as an employer,” Jones said. “So, we view that as somewhat uncompensated risk.”

Gallagher


Construction Inflation causing Insurance Limit Challenges – Many insurance policies contain co-insurance clauses requiring an insured to maintain limits of 80-100% of the current replacement value on buildings.  Review polices carefully and obtain a replacement cost estimate to be sure you are not penalized at the time of a claim.  A $10,000,000 building insured for $7,000,000 with a 90% co insurance clause would only receive $780,000 on a $1,000,000 claim.  The same challenges hold true for Business Personal Property (Equipment, Contents, Inventory) as well as how changes in employee and raw materials can impact Business Income limits.  Don’t let the inflation climate leave you uncovered for portion of a loss. 

Click here to read the entire cost trend update.

Impact Networking


Why Businesses Can't Afford to Forget about Threat Detection in Cybersecurity

Even if you have the best prevention tools, what happens when an attack still manages to get through your defenses and into your business’ network? That’s where threat detection comes into play to help you identify, eliminate, and recover from cyberattacks that find their way into your network. 

Threat Detection's Place in a Layered Cybersecurity Approach


A layered cybersecurity approach is when businesses utilize several different cybersecurity initiatives together to form one larger, cohesive strategy. Each aspect of that strategy is backed up by another to form ‘layers’ of defense. 

Click here to read the entire blog post.

Jefferson Wells



MARK YOUR CALENDAR: 2022 CFO Priorities Survey Report (Available October 10)

A few months ago, we conducted a CFO Priorities Survey where we asked CFOs across the U.S. to share their professional priorities, challenges, and strategic initiatives. The survey focused on the following areas…

  • Attracting and Retaining Talent
  • CFOs Biggest Challenges
  • Strategies to meet these challenges and mitigate risk
  • Digital & Business Transformation Projects
  • Cyber Risk Strategies
  • Barriers to Achieving Objectives
  • Priorities of the Board
  • Approach to Emerging Regulatory Requirements such as ESG, Climate Change, Cyber Security, and Cryptocurrencies

The results of this survey provide valuable insights into the priorities of CFOs and their organizations and will be a tool for you as you plan, prioritize, and execute for 2022 and beyond. We are ready to share the aggregated research results and final perspectives. The insights of our respondents, your peers, provides you a lens on the common goals and struggles for the CFO, as well as the knowledge that you are not alone on your journey. Knowing how others are prioritizing their response to similar challenges may help in your own planning and execution. ​Download the complete 2022 CFO Priorities Survey results from our website beginning October 10.


Weidert Group



Manufacturers Can Drive Revenue, Growth & Profit with Focus on RevOps

Revenue generation opportunities abound in your business — do you know where to look? Join Greg Linnemanstons, President of Weidert Group, at the Manufacturing First Expo & Conference for a deep dive into how Manufacturers Can Drive Revenue, Growth & Profit with Focus on RevOps. Greg will explore a holistic approach to revenue opportunities including:

  • How RevOps realigns and unifies internal operations around shared responsibilities for maximizing ROI at every customer lifecycle stage

  • What technologies are best suited for tracking and improving the flow of revenue through your business

  • Indicators that your business needs to implement RevOps – now!

EVENT DETAILS

2022 Manufacturing First Expo & Conference
Wednesday, October 26, 2022 
Resch Expo│Green Bay, WI 

Click here for more event information and registration.



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Contact email: Michelle Weiss michelle@mwcommunications.org