Simple Steps To Reduce Work Comp Insurance Costs
As small business owners, we know that workers compensation insurance is one of the largest expenses the company incurs. One of the reasons for high workers compensation insurance rates is due to fraudulent workers’ compensation claims. Here are steps you can take to help prevent fraudulent claims:
- Know who you hire – Conduct as much vetting as possible. Thoroughly interview job candidates to ensure they aren’t a bad apple in waiting.
- Educate – Protocols and procedures reinforce that your workplace is a well-run machine. It’s equally important that your staff understand the benefits available to them, including the difference between workers’ compensation, disability, and health insurance offerings.
- Manager Training –Supervisors and managers should understand the work comp process, including investigating safety lapses for appropriate correction and who to notify when an injury happens.
- Safety, Safety, Safety –Reoccurring and topical safety meetings avoid injuries from ever happening
- Listen – Don’t ignore complaints of poor working conditions or broken tools and equipment. Employee morale is maintained by feeling heard. Fix the issue, and then let them know that you appreciate their dedication to a safe work environment for everyone.
- Security Cameras – Cameras are inexpensive, sophisticated, and indispensable when trying to understand how a work injury may have occurred. Security cameras are a strong deterrent to would-be fraudsters.
- Investigate Injuries – Be sure to investigate how an injury occurred. You’re well served to dust of those safety detective skills to ensure that you gather all of the facts and ultimately understand how the injury could be avoided in the future.
- Care – If one of your team members is unfortunately injured at work, show them you care by regularly checking in on them. Support them now to strengthen that loyalty bond for years to come. Show them you care with a personalized e-card, and by helping them navigate the work comp claim process
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