As a business owner, you understand that workers compensation costs are very expensive. Thankfully, there are ways to help you manage those costs.
Tips for Managing Workers Compensation Expenses
Reducing workers comp costs involves implementing several key policies. All employees must be trained to ensure the program is effective.
- Appoint a safety team and safety manager to begin the process of creating a safety program. Include members from all departments to ensure that you address potential safety risks in all areas.
- Establish a robust safety policy.
- Conduct a risk analysis to determine which risks are the most critical.
- Develop the safety program and train all employees on the procedures. Post key policies in the lunchroom and other common meeting places to remind workers of the importance of following instructions. Conduct new employee orientation that focuses on safety procedures.
- Conduct safety audits to ensure that everyone is following the procedures. Make sure all workers are aware of and follow their instructions. There should be some form of reprimand for noncompliance. The punishment should be appropriate to the severity of the issue.
- Investigate accidents thoroughly to determine the root cause and develop preventive actions. Make sure to designate a doctor’s office or emergency medical center in which to send injured workers.
While you can’t totally eliminate accidents in the workplace, developing a sound safety program will significantly reduce the risks.