WEX Wrap-Up: June 2016

Some of the biggest news from WEX is that WEX’s acquisition of Electronic Funds Source (EFS) will go on as planned. The deal, agreed upon in October 2015, was cleared by the Federal Trade Commission in June—the announcement and disclosures can be viewed here.

WEX Fleet

• Addressing the Shortage of Drivers in the U.S.: Many industries are facing challenges to find talent, and the trucking, fleet, and maintenance industries are no different. What can businesses facing a shortage of talent do to drive interest? Align with local schools, encourage referrals, and be realistic about pay and benefits. Learn more about taking steps in the right direction in “How to Combat a Driver Shortage.”
• Safety in Work Zones: What is the stopping distance of a motor vehicle traveling at 50 MPH? What is the most common type of accident that occurs in work zones? What is the best way to avoid work zone delays altogether? All of this and more in “Safely Navigate Summer Construction Zones” on the WEX Fleet blog.
• It’s Good to Be Green: Protecting the environment has become a mainstream concern and consumer sentiment regarding ‘green’ best practices has become a changer of industries in the past decade. Needless to say, ensuring that your company is environmentally focused, as well as properly messaging its commitment to the environment can help your bottom line. See more in “The Business Advantages of Green Trucking.”
• Fleet Staffing Questions to Ask: Even in a shortage of talent, fleet management still needs to do its due diligence in hiring employees. But getting the right talent—someone who is coachable, knowledgeable, and who cares about his or her work—means you have to ask the right questions. Learn more in “Four Fleet Staffing Questions to Ask.”

A bit of fun: Test how well you know your Trucker Pop Culture Knowledge.

WEX Index: Retail prices start June at 2016 highs

Gasoline prices are at or near highs for the year to start the month of June with US averages hovering near the $2.35 per gallon level. Notably, however, these prices still significantly lower than where they were at this time last year. Retail prices are running some 40 cents below where they were at this time last year and the recently completed Memorial Day holiday weekend saw the lowest US averages since 2005.

WEX Travel

• Is Tour Selling an Unexplored Opportunity for Your Business?: The stereotype of the senior citizen group tour traveler is not as prolific as one would expect. Millennials are more concerned about risk when traveling and more intimidated at the thought of going it alone than other generations, creating an opportunity to position group travel as a viable option. See why in “Don’t Overlook Opportunities Selling Tours.”
• Cybersecurity for All Customers: There appears to be a Cybersecurity Gap between millennials and Boomers when it comes to traveling with connected devices, but what can be done to close the gap? WEX Travel took a deeper look at the generational gap, including tips from the US Traveler Security Study in “Making Cybersecurity a Priority for All Customers.”
• Travel Payment Analytics and the Power of VCNs: Travel companies are using data in all of its various shapes and sizes to help deliver extraordinary customer experiences. But what about using data to inform administrative process decisions? See how payment professionals are using data and VCNs to streamline the payment process in “The Power of VCNs for Travel Brands.”
• Adding Up Ancillary: Long gone are the days of ‘just selling tickets.’ With more fees, more services being provided, and more going to airlines, all of these are taking more time for travel agents, but is the selling of these services benefiting agents? See more in Ancillary Sales Add Up—Do They Benefit Agents?

WEX Health

• Digital Health Trends to Watch through the Rest of 2016: Wearables, VR, AI, personalized medicine, and big data are changing the way patients experience health. In this Healthcare Trends Institute article, authors take a deeper look at the biggest things to watch in digital health in 2016.
• Adapting Benefits to Different Generations: Millennials and Boomers have different needs, but providing meaningful benefits to each generation is a challenge. Learn how to make the most of a generation-focused benefits plan in our article Different Generations Need Different Benefits.
• What are the Key Traits of an Effective Benefits Program?: Employee benefits have become a critical discussion point in the recruitment and retention of employees, the engagement of said employees, and the overall wellbeing of your organization. From small businesses to startups to tech giants to Fortune 500 companies, the right employee benefits program can be as important as a good salary or adequate vacation.
• Regulators, Legislators, and Coming Changes for Healthcare Benefits: Healthcare, tax, financial services—all of which are subject to intense regulation, speculation, and legislation—are in a state of constant change. To address this, the Healthcare Trends Institute recently hosted an event to discuss coming changes in the healthcare benefits field. See more in the article, “Regulatory and Legislative Outlook for Healthcare Benefits Stakeholders.”

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