Proactive approach needed to mitigate workers compensation costs

The last post I discussed the upcoming workers compensation rate decreases in the State of Delaware. Just as important to the small business owner is the implementation of a few extra steps that could go a long way to help keep their work comp costs down. Emphasizing safety on a daily basis to your employees is an important first step. Make it a daily topic, either in conversation, emails, or by posting helpful safety tips in prominent work spaces. Another way is to make employees involved in the safety process. Advise your employees that whomever goes the longest during the year without a work related mishap involving workers compensation, will be rewarded with a bonus at the end of the year. If they all succeed then make sure everyone is rewarded. Those businesses that have struggled with large workers compensation premiums due to a high loss frequency can especially appreciate this. Compared to the extra premium paid out, a small bonus paid to diligent, safety conscious employees is a small, yet beneficial, price to pay.

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