Tips For Managing Workers Compensation Costs While Downsizing
Whether these are true or untrue, as a risk manager or someone involved in the claims process, be ready for the onslaught of the consequences of layoffs or downsizing.
Not everyone will file a claim for workers comp, but bet the disgruntled employees will, along with a few unexpected employees to now report an injury of some sort in the past. CLC has some tips for deducting these workers compensation worries during downsizing. Of course you’ll want to check with your human resources department or counsel before implementing any of these ideas.
Don’t neglect the exit interview
Set aside some time to talk to a worker who has just been laid off, or who has resigned from their position. When downsizes, workers let go will probably be seeking you out to find out why they were chosen, so being proactive and creating a venue for conversation can help. An exit interview is a good opportunity to ask if the worker is hurt, or had a workers comp claim, or is experiencing pain for example. You can also use this time to learn from your workers and improve your company structure as you move forward.
Hire a Risk Management Company
Accurately managing risks is a great way to avoid the high costs associated with occupational injuries and claims. While some construction companies have the resources to develop risk management programs internally, others can find the the process daunting and difficult. To avoid this, many companies are hiring experts to assist with getting a risk management program on track, allowing them to focus more on their companies growth and success.
With a full-service risk management company such as Construction Labor Contractors, you have access to a comprehensive risk management department featuring smart, experienced underwriters, loss-control specialists and claims managers. By providing most everything–from return-to-work programs and drug testing to comprehensive claims review and litigation–we can put a comprehensive shield around your organization, absorb risk on your behalf, and minimize workplace injuries. And you’ll be glad to know we can manage workers’ compensation in all 50 states.
From maximizing workforce productivity and to helping your company minimizing workers compensation costs during downsizing, Construction Labor Contractors can help.
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