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Are you From a simple muscle strain to You\u2019re probably well-aware of the direct costs you pay in workers\u2019 compensation insurance premiums, but you may not have considered the indirect costs<\/a> of on-the-job accidents and injuries. <\/p>\n You may have to For an eye-opening look at just how much a workplace injury can cost your business, use the Occupational Safety & Health Administration’s (OSHA) $afety Pays tool<\/a>\u00a0to calculate the direct and indirect costs to your business. You\u2019ll see how much accidents and injuries, from a simple muscle strain to a more serious concussion, can set your company back.<\/p>\n That\u2019s why Many injuries can Having a safety Various studies have shown that for every dollar invested in injury prevention, businesses see a $2 to $6 return, according to Safety and Health Magazine<\/a>. <\/p>\n This strong Moreover, putting Ready to start planning? The Occupational Safety and Health Administration offers many helpful tips and tools to kick off your health and safety plan. When drafting it, be sure to incorporate their seven core elements<\/a> of recommended practices for health and safety programs:<\/p>\n If you\u2019re And Once you have an effective health and safety plan up and running, you can also apply to participate in OSHA\u2019s Voluntary Protection Programs (VPP).<\/a> VPP officially recognizes employers and employees who have achieved exemplary occupational health. <\/p>\n In the VPP participants undergo a rigorous onsite evaluation by a team of safety and health professionals and are re-evaluated every 3 to 5 years to remain in the programs. VPP participants are exempt from OSHA programmed inspections while they maintain their VPP status. OSHA also offers several other cooperative programs<\/a> aimed at preventing workplace injuries.<\/p>\n Even with a sound It\u2019s often the The goal of a return-to-work program is to proactively help injured employees get back to work as soon as possible, even if it\u2019s on a modified basis as they recover. This could include allowing an employee to work part-time or light-duty hours, coordinated in conjunction with the employee\u2019s medical provider.<\/p>\n An active Finally, joining a professional employer organization (PEO)<\/a> can help manage workers\u2019 compensation costs and claims, while also helping you navigate the safety challenges in your business.<\/p>\n A PEO can help you<\/a>:<\/p>\n Bundled together, Want to learn more about how a PEO can help you? Download our free e-book, HR Outsourcing: A Step-by-Step Guide to Professional Employer Organizations (PEOs)<\/a>.<\/p>\n
\nstruggling with how to reduce workers\u2019
\ncompensation<\/a> costs for your business? If not, do you understand the
\nsizeable risk that workers\u2019 compensation claims pose to your business, and do
\nyou have a plan in place for when these claims arise? <\/p>\n
\nmore serious, long-term ailments, on-the-job injuries are no joke. As a
\nbusiness owner, your preparedness for these situations can determine the fate
\nof your business.<\/p>\n
\ntrain replacement employees, adjust work schedules, investigate accidents and
\nimplement corrective measures. You may lose productivity, have to repair
\ndamaged equipment and property, and deal with lower employee morale and
\nabsenteeism. <\/p>\n
\ncontrolling workers\u2019 compensations costs is so important to your bottom line.
\nHere are three strategies to get you started:<\/p>\n1. Set up a safety program<\/h2>\n
\nbe prevented before they occur.<\/p>\n
\nprogram helps you identify and eliminate workplace hazards that may cause
\naccidents. The return-on-investment for such programs is well proven.<\/p>\n
\nreturn may explain why many states, like California, require employers to have
\na written safety program.<\/p>\n
\nstandards and procedures on paper shows that your company is committed to
\nproviding a safe work environment for employees. <\/p>\nHow to set up a safety program<\/h2>\n
\n
\nstarting from scratch and have a perceivably safe work environment, you can get
\nsome extra help designing your safety program from a variety of sources at
\ndifferent prices. Consider using:<\/p>\n\n
\nremember, a safety program has to be more than the document. Only the support
\nof top management and proper on-the-ground training will put it into practice
\n(and make a real difference in employee safety, as well as controlling your
\nworkers\u2019 compensation costs).<\/p>\n
\nprogram, management, labor and OSHA work cooperatively and proactively to
\nprevent workplace fatalities, injuries and illnesses through a system focused
\non hazard prevention and control. <\/p>\n2. Build a return-to-work program<\/h2>\n
\nsafety program, accidents can still occur. When they do, a return-to-work
\nprogram can create a direct cost benefit to the workers\u2019 compensation claim.<\/p>\n
\ncase that the longer a workers\u2019 compensation claim stays
\nopen, the more expensive the claim. For example, when injured
\nemployees return to work later, the claim must cover more replacement income.<\/p>\n
\nreturn-to-work program can also have indirect cost benefits. It can help you
\nmaintain workplace ties with injured employees and avoid the alienation that
\ncan occur on both sides during a prolonged absence. And an early return-to-work
\nlowers the chance that the employee will never return.<\/p>\n3. Join a PEO<\/h2>\n
\n
\nthese efforts can make a big difference on workers\u2019 compensation and the added,
\nindirect costs of workplace injury. A good PEO\u2019s safety services can go a long
\nway toward fostering a high-return \u201cculture of safety\u201d at your organization.<\/p>\n