13 Dec Emphasizing Safety to Reduce Workers Compensation Costs

Owners of small businesses often find standard workers’ compensation insurance difficult to manage. It typically requires the business to make a significant upfront premium payment that can tie up business capital and cause cash flow difficulties and other administrative problems. Pay as you go workers compensation insurance avoids these difficulties.

Employers who wish to reduce the cost of workers’ compensation are encouraged to emphasize workplace safety in order to reduce claims that may affect the workers’ compensation ratings of their businesses. There are a number of ways that a business might tackle hazardous issues in the workplace. Let’s look at a simple example that relates to flooring.

•    Minimize floor level changes; if a floor level change is necessary, ramps are preferable to steps.
•    Avoid sudden changes in the surface texture of floors. Where sudden changes cannot be avoided, install good lighting.
•    To avoid injury as a result of slips and trips, ensure that spills are cleaned up promptly and that items such as extra stock, rubbish and equipment are not left in a hazardous location. It might also be appropriate to make safety shoes mandatory in your workplace or in particular zones.
•    Increase the slip resistance of floors with rough finishes that increase surface friction if appropriate.

Eliminating safety hazards in the workplace and changing to pay as you go workers compensation insurance are two steps that might keep your workers compensation costs manageable. Contact your agent or insurer or agent to check whether you qualify.
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