Every conscientious employer wants to lower the risk associated with their workplace. Not only is lowering the risk to our employees in the workplace the right thing to do, it can also monetarily benefit your business. Clearly, if your employee is not injured, you will not have to pay out workers’ compensation benefits, hire an attorney, or other direct costs. Moreover, reducing the incidences of injury can help to lower your workers’ compensation insurance premium. There are several ways you can look into improving your workplace safety to lower your workers’ compensation costs.
One way you can help lower your workers’ compensation costs is to make sure all of your equipment is up to date and in good repair. Some business owners try to avoid costly updates or repairs in an effort to save money. However, this can spectacularly backfire. If you allow machines to fall into disrepair, the chances of your employee getting injured while using the equipment goes up, thus adding to your workers’ compensation costs.
Another way you can help lower workers’ compensation costs is to start a safety committee at your work. Safety committees are groups formed from groups of your employees. During regularly scheduled meetings, employees address common safety problems seen in your workplace, and can discuss how to improve conditions to reduce the chances of someone getting hurt. The safety committee can also help to foster a corporate culture that promotes safety in the workplace.
Third, you can and should provide training to your managers and employees about the particular dangers that are present in your workplace. For example, if you work in an office environment, training should include the potential dangers posed by occupational illnesses, such as repetitive motion injuries like carpal tunnel syndrome. Providing education to your employees about the obvious dangers in your workplace can help reduce your workers’ compensation costs, as building employee awareness can help your employees identify and avoid sustaining an injury in the first place. Providing additional training on current safety measures and the most recent safety standards also helps to reduce the likelihood of workplace injury and thus your business’s workers’ compensation costs.
If you are a business owner and have questions about your obligations under workers’ compensation, call us today. We can help you understand the workers’ compensation system and how your business fits within it.