Lowering The Cost of Workers' Comp

Lowering The Cost of Workers' Comp

Have you wondered how to reduce workers’ compensation costs for your business?   Workplace injuries are no joke and could be quite impactful to your bottom line.  The direct costs can be easy to see but you also face potential indirect costs of workplace injuries and accidents.  Corrective measures for added safety, training new employees and employee morale to name a few.  

Having a plan to be proactive can go a long way in lowering these potential costs.   Safety, safety, safety.  Having proper safety protocols can help you identify potential workplace hazards and help you avoid them.  You can work this into your employee handbook and training. 

Making the workplace safer is a key step, but even with those protocols in place, accidents and injuries will eventually happen.   A plan for returning to the workplace will help keep the loss of productivity lower and lessen the impact of a workers’ compensation claim.  This involves steps that help injured workers return to work as soon as possible and in a way that’s safe for the worker.  This could include having them return to work initially on a modified basis.  

Finally, you may consider joining a Professional Employer Organization who can help with evaluating your safety plan, relations with injured workers and even help you choose or negotiate the right workers’ compensation program.  

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