Having a custom risk assessments for our business can help you prevent accidents, improve overall safety performance and, ultimately, save money. Rather than simply applying generic safety methods that can inadvertently result create revenue-losing scenarios, take advantage of tailored Risk Management solutions. Our Risk Management services will ensure that you’ve identified and mitigated your businesses’ unique risks to protect your profits.
Do you know how risk management can protect your profit margin?
Explore how mitigating your unique risk exposures can protect your employees, business, and ultimately, your bottom line.
Are you about to hire your next workers' compensation claim? In an effort to get a position filled quickly, you may take short cuts that could cost you thousands of dollars.
Prospective employees should be required to complete a pre-hire physical. A copy of the intended job description can then be given to the medical provider with the physical requirements of the position. This helps to ensure only those capable of doing the job are hired and keeps other employees safe.
Education and Injury Reporting
Often times employees don’t understand the workers' compensation process and may be afraid to report a claim for fear of losing their job or impacting a daily count of injury-free days that are tied to an incentive program.
Educate employees on the workers' compensation system. During the hiring process, consider explaining how workers' compensation coverage protects your employee when an injury occurs. Your employee should understand that it is their responsibility to report an injury immediately and follow the company’s guidelines for seeking medical attention. Explain your return-to-work policy and have your employees sign an agreement stating they understand the process.
Your employee may become injured and you might be tempted to rely on someone else to communicate with them. As a result, your employee may be confused by the workers' compensation process and unsure where to turn.
You and your supervisors need to stay in constant communication with your employees. Your insurance broker can provide some coaching and guidance throughout the process. Above all, your employees should feel that you care about their injuries and that you will be involved in helping them recover. Your direct supervisors play a key role in this process and should be trained to effectively communicate with your employees throughout the injury.
When your employees become injured, they may need time to recover. As an employer, you may be tempted to rely solely on the workers' compensation insurance company and/or your employee’s medical provider to communicate throughout the process. If you do, the process can become unnecessarily prolonged.
As the employer, let your insurance company and your employee’s medical provider know that you have a return-to-work program in place. Ask the medical provider to refer to the job description that has been provided for the injured employee. As soon as the employee is medically cleared, offer a light duty position and ask them to report to work. If needed, your employee can continue to receive treatment while they continue to recover.
Payroll Audits and EMR
Statistically, your company’s Experience Modification Rate (EMR) has more than a 70% chance of being incorrect. Your EMR is a number used by insurance companies to gauge any past cost of injuries and future chances of risk. In addition, over 80% of payroll audits are done incorrectly. Both factors impact your workers' compensation coverage.
Trust your insurance advisor and have them assist and advocate during the annual payroll audit conducted by the insurance company. Your agent should also monitor all claims, but especially claims reserved over a $10,000 threshold. Larger claims should have a quarterly report prepared by your insurance agent to let you know the status of the claim. Your agent should work with your insurance company’s claims adjustor to close any claims as quickly as possible.
Medical Provider Communication
Claims can remain open longer than needed due to poor communication between you and your employee’s medical provider. As a result, you may be unaware that your employee is well enough to return to work on a modified basis.
Get to know the doctors that are helping your employee heal. Your insurance broker should foster this relationship by assisting you in the selection of the medical provider prior to a claim. Meet with the medical provider, interview them, tour their facilities, ask them to tour your location and explain your return-to-work program. Job descriptions can be provided to the medical provider and an agreement of services can be achieved. Once a claim takes place, a clear line of communication should be established so you are kept aware of your employee’s status.
Sometimes employees are trained to do a job well, but are not trained to do their job safely. Many work-related injuries can be avoided by effective training.
Your insurance broker should be able to organize monthly training classes. Many insurance carriers offer training tools at no charge and your broker can help you utilize these tools to your advantage. For example, topics such as proper lifting techniques can be critical for many job functions. Also, using tools like payroll stuffers can be very effective.
Many employers are concerned about their next OSHA visit. Worried about citations and fines, employers see OSHA as the enemy. Sound familiar?
OSHA's On-site Consultation Program offers free and confidential safety and occupational health advice to small and medium-sized businesses in all states across the country, with priority given to high-hazard worksites. On-site Consultation services are separate from enforcement and do not result in penalties or citations. Consultants from state agencies or universities work with employers to identify workplace hazards, provide advice on compliance with OSHA standards and assist in establishing injury and illness prevention programs.
Risk Management Services & Tools
Regardless of your industry and business, there are risks that impact all business owners. However, the specifics of how those risks show up in your environment are unique to you, and often can be hidden in plain sight. Rely on your Risk Management Specialist to identify and mitigate your unique risks.
Even if moving stock is not central to your business, in today’s order-by-mail environment, most businesses have some degree of lifting when it comes to office supplies. Although it might not seem like a dangerous risk, handling and moving stock can cause serious back injuries. Learn proper lifting techniques, storage system and have trolleys on hand for heavy loads.
Without safe procedures for managing vehicle deliveries, staff or members of the public may suffer severe or even fatal injuries if struck by a vehicle. Moreover, if employees are driving company vehicles or even driving personal vehicles for a work-specific function, defensive driving tactics are crucial. Working with Risk Management Services will help you to create a transport schedule to coincide with low traffic periods and teach safe-driver behaviors.
Slips, Trips & Falls
Any business with a physical location must contend with slips and trips. Whether this is weather or supplies related, the ramifications can be serious. Learn how to reorient foot-traffic paths to discourage trips and how to properly address spills to protect your business from any misstep.
Business Contingency Planning
With one in four small businesses unable to reopen their doors after a disaster, business contingency planning is a core risk management principle. The purpose of business contingency planning is to define the recovery process developed to restore ’s critical business functions. Let us develop a customized plan for the unique needs of your business.
Risk Management Policy Review
Effectively managing evolving risks and controlling insurance costs in a tumultuous business environment can be challenging. That’s why we review current safety and risk management policies and offer opportunities for improvement and growth.
Onsite Visit & Assessment
Schedule your annul site visits to ensure your Risk Management plan reflects the day-to-day operations and corresponding liabilities of your business. Our recommendations are based on our onsite observations of employees, customers, and property safety.
We update your Claim Summary monthly so that you can address Open Claims, Reverse Changes, and close claims in timely manner. Then, at every Quarterly E&C Meeting, we review the status of claims and trends and recommendations for preventative measures.
Return to Work
Your employees are your number one asset, and when an employee can’t work due to illness or injury, it has a significant impact. Implementing an effective return-to-work strategy can help employees work while still recuperating, protect their earning power and boost your company’s output.