A workers compensation is crucial to ensure that an employee working for an employer or business is financially secured if they get injured on work. This insurance also protects the employer from being caught in a legal hassle in future.
But not every employer thinks of this insurance of any significance. Instead of perceiving it as an expense, workers compensation should be considered as a controllable aspect of a business, that if the managed right would yield a positive return on investment. Per the National Safety Council, Every 7 seconds, a worker is injured on the job. These stats are staggering enough to talk about the mistakes that employers made when managing the worker’s compensation.
- Not many employers are aware that the worker’s compensation cost can be reduced by creating a more safe working environment. To minimize the on-the-job injuries, employers should make sure they have a safety committee that holds regular safety training sessions, a committee of hazard experts that make sure a proper work-site inspection and job hazard analysis is done for every position to ensure maximum security.
- The immediate employer/ supervisor’s failure to investigate the accident and injury, as soon as it happened can result in trouble with substantiating the situation to seek workers compensation. Since an employee is closest to their immediate supervisor, who is aware of the employee’s schedule, work ethics would be able to determine the possibility of the accident and others vital aspects that can influence the claim.
- It is appreciable to see organizations efficiently work towards preventing any work-related injuries and take necessary steps during the accident reporting process but they often miss out on structuring a comprehensive return to work programs. Employers don’t realize that the longer the injured employee would be given time off work, the higher will be the cost of the claim, which will impact the compensation premium rates. The employer should keep the employee engaged in some light duty work until they are healthy enough to get back to their daily routine. This way the employer will be able to receive minor output from the employee and minimize the possibility of having to reimburse the disability.
As an employer, you have to make sure that your employees are covered for every possible injury they might get during work, which is why it is imperative that you get them . Not only will this group insurance protect your employees and help them financially if they get an injury while working but it will also prevent your business name from getting tarnished if an employee sues you for not providing adequate financial assistance. Regardless of the number of employees and the nature of their job be it part-time, full time or contractual, immediately get a workers compensation insurance to make your future safe.
It will be in your best interest if you consult an independent insurance agency which provides comprehensive insurance solutions, from worker’s compensation to auto insurance Lake Charles. You can rest assured with these independent agencies expertise at affordable rates, that in case a misfortune befalls, you have a reliable financial backup.
