No business owner wants to have an injured employee. Reducing the risk of accidents and injuries is a critical aspect of good management, in every industry. Employees who have been trained with customized worker safety programs are far less likely to be injured when performing the duties of employment – and file a claim with your workers’ compensation insurance provider. Every claim filed with your insurance provider will lead to increased premium costs, and in some industries, may lead to OSHA fines for violations of workplace safety standards.

How to Reduce Workers’ Compensation Claims

A customized workplace safety program, implemented to train employees, can significantly reduce the risk of an employee suffering serious injuries or worse. These programs are built to match the activities of the business. A company that has a built-in culture of safety has an added benefit – happier employees, and improved employee retention.

Workplace safety programs – the cost of doing business.

A well-crafted workplace safety program, implemented throughout a business, is one of the wisest investments a business owner can make. The return on investment includes reducing the costs of losses associated with wages and productivity, medical costs, and increases in monthly workers’ compensation costs. The benefits of promoting workplace safety include:

• Greater work efficiency
• Higher employee morale
• Higher employee retention
• Savings on workers’ comp premiums

What are the Costs of Workplace Injuries?

Employers face several financial losses when a workplace injury occurs, including:

• Medical bills: The cost of medical care is covered by workers’ compensation insurance, but when a claim is filed, the premiums increase.
• Fines, penalties: OSHA may get involved when an injury occurs, and if they discover violations of safety regulations, can lead to expensive fines.
• Equipment and property damage: When an employee has not been well-trained with the materials and equipment, it can lead to a serious or fatal accident. Equipment and materials can also be damaged, at high cost of replacement.
• Missed work: An injured employee will be unable to perform their work duties, but still must be paid. Lost production time can reduce the ability to deliver goods or services, significantly affecting the bottom line.

What Type of Training Program Would be Best for Your Business?

Promoting safety is not a “one-time” activity but must be ongoing. It is a critical aspect of onboarding a new employee. Safety education and training allows all employees, including managers, supervisors, and workers to understand the inherent hazards in the workplace. In many states, the cost of worker’s compensation is reduced for businesses that have implemented a safety program. Whether you are operating in a state with these discounts, or another state, reducing workers’ compensation claims is always a critical concern. The types of programs that can be implemented include:

• Seminar training
• Workshop training
• Peer-to-peer training
• On-the-job training
• Regular safety inspections
• Training programs for supervisors, managers, and employees
• Reporting systems to identify developing hazards
• Promoting safety with posters, emails, and other materials
• Safety training geared to be easily understood and absorbed, in more than one language when needed
• Additional training for new processes, equipment, or when a worker takes on new tasks

The Right Workers’ Compensation Insurance

As workers’ compensation premiums can be expensive, doing all you can to ensure your employees are safe protects workers – and the bottom line. When it is time to review your workers’ compensation insurance, speak to one of our local agents, as new programs become available every year, and it may be possible to reduce the cost of monthly premiums.