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