When an employee gets injured on the job, the outcome can affect productivity and, unfortunately, the company’s bottom line. While workers’ compensation is designed to pay for a staffer’s medical treatment and wage loss during their recovery period, the key is to prevent these types of scenarios from happening. Below are several steps businesses can take to reduce insurance costs caused by workplace accidents. 

4 Ways to Minimize Workers’ Compensation Costs

1. Establish a Thorough Safety Program

A comprehensive program offers proactive measures. Yours should include detailed information about promoting positive work safety habits aimed at avoiding accidents and injuries. Be sure your company’s safety program also provides employee training on safety procedures and equipment use. Keep it active by holding additional training when needed and posting safety reminders throughout the office building and property.  

2. Create an Active Claim Management System

If an employee is injured, you don’t want the workers’ compensation insurance claim languishing in red tape. The sooner you get it processed, the faster the affected party can recover. Partnering with a firm that offers active claim management helps expedite the process. The best ones have extensive experience completing the required paperwork and being the middleman between your company and the insurance provider. You won’t have to spend hours on the phone, which leaves more time to running your business. 

3. Design an Employee Wellness Program

Another way to keep workers’ compensation insurance costs low is by having healthy employees. An employee wellness program comes in many forms. Some employers may offer an on-site gym and exercise classes, while others promote healthy eating habits. For businesses, the bottom line benefit is that the program can help improve productivity, reduce absenteeism, and minimize workplace injuries. 

4. Form a Return to Work Program

This type of initiative helps an injured or sick employee return to work as directed by their physician. Their job duties may be modified to accommodate their condition until they are able to recover fully. A return to work program can help businesses reduce unresolved workers’ compensation cases that drag on for months or years. Having a program in place may also reduce the amount of money needed to train new employees.

Protect your company and employees by being proactive. Lamarca Insurance in Port Charlotte, FL, specializes in helping businesses choose workers’ compensation policies that fit their needs and budget. The team of experienced insurance agents will offer you several coverage options from some of the industry’s top carriers. What makes the agency different is taking the time to provide clear explanations and answering your questions. To learn more about reducing workplace safety risks and managing workers’ compensation claims, call (941) 206-0033 or visit the website.