Providing your customers, clients and employees a safe work environment should remain a priority as your small business grows, but with success often comes the need for a larger worker’s compensation insurance plan. As you hire more employees for your business, you will need to up your policy, but there are some ways you can reduce your worker’s compensation insurance premium.
According to recent research conducted by WorkSafe, some businesses lack direction when regarding delegated safety precautions. However, business owners are urged to implement a system for health and safety management when looking to reduce the cost of insurance and keep their employees safe. Additionally, doing this can reduce other expenses associated with accidents and incidents that can take place in the office or on site, while productivity and worker efficiency can also improve with proper systems in place.
For some business owners, developing or mirroring safety management systems can seem like a challenging tasks, which is true in some cases for more complex outlines. One aspect that WorkSafe advises to implement is a return to work/injury management plan. This means, getting your employees back in the office after they have obtained an injury while on the job and providing them with the right resources to do so. Over time, business owners could see a reduction in their premiums for workers compensation insurance and provide their employees a safer environment.
If you have developed a human resources department, you will be able to appoint someone as the coordinator for a return to work program. However, some business owners take on multiple roles when their company is still small, so understanding the role is important. The HR department will work closely with your company’s insurance agent, or you will should you not have someone for this position, according to the Seven Pillars of Safety.
In addition, the person in charge of getting employees back to work will work with individuals on how they can get back in the office sooner. Information needs to be kept on file regarding the injury and a claim should be sent in as soon as possible after an event happens.