Your workers' compensation insurance costs are tied to your company's risk. The more risk of insurance claims, the higher premiums you can expect to pay. Creating a company safety program is a proactive way to lower workers' compensation insurance by reducing your risk of claims.
Company Safety Program Suggestions
- Delegate a safety coordinator or team to create a program with training to prevent accidents and injuries from occurring- as well as how to handle them when they happen. A company safety program will lower workers' compensation insurance claims when employees are educated about potential safety risks and adhere to safety policies.
- Outline procedures for the proper use and maintenance of machinery/ tools with lock-out procedures for any that may need to become immediately unusable.
- Provide personal protective equipment to protect employees from harm on the job. For some businesses this may require only protective eye-wear. Other businesses may require hard hats, ear plugs, gloves, etc. If you want to see lower workers' compensation insurance premiums, enforcing a PPE policy is a must.
- Create a job site checklist for monthly site inspections to ensure that there are no avoidable safety hazards and all safety rules are being followed.
- Set up a safety bulletin board with safety documents for employees. A visible record of days since last accident is another way to lower workers' compensation insurance by encouraging employees to keep the number going by avoiding possible accidents.
- Conduct monthly safety meetings. To help ensure compliance, request employees sign a form after attending or when presented safety policy documents. Safety meetings can be a great opportunity for employees to become more involved with workplace safety improvement.
- Designing a company safety program and giving your employees a copy of the policy documents is not enough. Enforcing your safety program rules and requiring complete adherence is an imperative step to lower risk and ensure lower workers' compensation insurance claims.
PEOs Can Help Create a Safety Program
A Professional Employer Organization (or PEO) has properly trained and educated professionals that will design a safety program appropriate for your company. In addition, a PEO can also lower your workers' compensation insurance costs by up to 40% compared to traditional or state insurance carriers.
PEO services will also:
- Manage your workers' compensation claims
- Identify potential loss exposures
- Conduct fraudulent claims investigation to keep your costs under control
- Provide complete payroll management
Call ELQ, the PEO experts, at 888-582-8388 or fill out our request form to find your perfect PEO company solution today. With over 700 PEOs to choose from, there may be only one that can deliver the benefits you need. Since 2001, we've helped thousands of employers - we're here to help.
