What To Do If Rising Workers Compensations Cost Are Impacting Your Business
Protect Your Company And Your Employees With Proactive Solutions
With the cost of claims rising and the underwriting process tightening, companies are beginning to feel the impact of rising workers compensation costs. Construction companies who are creating proactive ways to address workers compensation are most likely to reduce the costs associated with injuries and illnesses. Construction Labor Contractors explains some ways keep the costs associated with workers’ compensation at a minimum.
Start a conversation about safety
Creating a workplace culture with safety in mind is one of the most effective measures to curb workers’ comp costs. This can include creating a new safety task force to keep rules and regulations at the top of worker’s minds, or holding regular meetings to update your staff on any changes to your safety policy.
Investigate and document
To avoid the risk of increasing claims driving up your company’s insurance costs, make it a priority to do your due diligence when investigating any illnesses or injuries. This benefits not just your company, but your employees as well. Make sure that you have staff devoted to maintaing contact with the employee throughout their care, as well as keeping in touch with their their medical provider or any other party involved. Keep records of all documents and ensure that the injured employee has a copy as well.
Implement a return-to-work program
A strategic post-loss objective will also benefit the employees of your company, as well as your bottom line. After an injury or illness has occurred, there are things you can do that will affect your workers’ compensation insurance costs. Making sure the employee receives medical attention after an incident, and adjusting their duties upon their return to work, will not only help an employee return to work as soon as possible but will also help to prevent future injuries. In addition, avoid any fines by making sure you file injury paperwork promptly.
Partner with a temporary staffing company
Another way to control workers’ compensation costs is to shift the expenses to a temporary labor staffing company. When construction companies partner experts like Construction Labor Contractors, it puts a comprehensive shield around their organization, absorbs risk on their behalf, and minimizes workplace injuries.
Construction Labor Contractors is a trusted named in the staffing industry since 1977, and we confidently handle workers’ compensation in all 50 states. As part of our plan to be an industry leader, we place a keen eye on safety by providing the highest quality in training for all of our temporary workers. From maximizing workforce productivity to minimizing risk exposure, Construction Labor Contractors can reduce your worker’s compensation exposure.
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