A billion dollars…right out the window.
That’s what American businesses spend each week on worker’s compensation claims.
If that isn’t enough to give you pause, that figure represents only the direct costs of medical and legal payments. Indirect costs of training replacement employees, conducting accident investigations, hiring crisis management PR experts, repairing equipment, lost productivity, and low staff morale easily double the pain.
Want a real-world estimate of a threat facing your workplace? This cost estimator provided by OSHA will put the fear of the safety gods into you.
But it doesn’t have to be this way.
Avoiding crippling worker’s compensation claims begins with developing a workplace safety program, reinforced by ongoing training and hands-on management.
Getting started — Developing a comprehensive safety program can seem daunting, but Sinclair Risk & Financial Management can help. We want to reduce your worker’s compensation costs not by just getting you the most affordable premiums, but by making sure accidents are rare or nonexistent in your shop.
Training — Too often we see operator error leading to significant injuries. The machines are working just fine, but employees were not properly educated on how to use them safely. We provide a comprehensive analysis of your operations and identify areas where training needs to occur or be reinforced.
Make it worthwhile — Safety is your responsibility, but you need buy-in from all staffers. Consider a program that rewards everyone in the workplace for keeping it safe. Six months accident free? Everyone gets an extra day off, or a gift card, or a lunch…there are numerous low-cost incentives that will keep your staff focused on the goal.
Identify trouble areas (and trouble employees) — It’s bad enough if an employee sustains an injury once…but twice? Same goes for a piece of equipment. Anytime there’s a repeat claim associated with an employee or particular piece of equipment, you need to laser in, figure out the reason, and correct the problem. As part of our ongoing commitment to safety in your workplace, we can help with these sensitive audits.
Safety is your responsibility, and operating a safe shop is the only smart way to do business. The Sinclair Risk team includes experts at helping business owners implement a safe workplace and keeping it safe through training and follow-up. Take the scare out of safety and talk to us today.
CEO Sinclair Risk & Financial Management