Is Workers' Comp Simply a Cost of Doing Business?
Many employers don't know that workers' compensation costs ARE controllable. They often think workers' comp is simply a cost of doing business. While some types of overhead cannot be managed, workers' compensation costs CAN be controlled. By exercising a short list of simple steps, most employers can reduce their workers' comp costs.
Although many factors contribute to the problem (e.g., a decentralized or unionized workforce, relentless advertising from plaintiff attorneys, state laws appearing to be employee-oriented), employers should take a "can do" proactive approach to offset and overcome these obstacles. We often hear employers say that attorneys cause high workers' comp costs, and while the cost of a claim with attorney involvement is nearly double the cost of a claim without attorney involvement, there are many things an employer can mitigate these costs.
For example, employers CAN simply communicate more frequently with their employees. To overcome the problem of an attorney steering your employee in the wrong direction, here are some of the proactive steps you can take.
Develop a brochure explaining what to do when an employee is injured on the job.
Write a clear post-injury response detailing exactly what happens within the first 48 hours after an injury.
Align with a top quality local medical clinic to sure injured employees receive immediate and appropriate medical treatment.
Meet with every injured employee during weekly meetings to find out if they are experiencing any obstacles such as not understanding follow-up medical care or having difficulty getting to medical appointments. During the weekly meetings, offer them transitional duty positions until they are fully recovered.
It is a matter of being proactive, not waiting until an employee has been out of work for months then trying to find a way to get them back to work when the claim has reached a threshold of $25,000 and the employee has become isolated from the workforce. Play to your strengths; don't let obstacles derail your entire program. Employers who take a "Can Do" approach can reduce their workers' comp costs 20-50%.
Learn more steps an employer "Can Do" at
http://reduceyourworkerscomp.com//immediate-injury-response.php.
About Workers Compensation Tool Kit
The Workers Comp Kit is brought to you by Advisen's partnership with Becki Shafer and Amaxx Risk Solutions, Inc. These products help companies reduce workers' compensation costs by assessing key cost drivers, developing benchmark comparisons, and designing strategies to reduce workers' comp costs. Visit http://corner.advisen.com/wc or call +1.212.897.4800 for more details.
