Workplace Safety Can Save You Money on Workers’ Comp

Workplace safety is important just to protect the well being of workers. But it also has other benefits, one being the saving of money on workers’ compensation insurance. Workers’ comp protects companies from lawsuits as well as providing medical treatment and money to workers who have been injured on the job.

If your company has more accidents, you will probably have higher insurance costs as well. The premiums you pay are based on the level of risk your company represents. There are a number things used to determine this level – including the injury risk for your industry as a whole, the safety record at your company for the past three years, and your safety training program, as well as other factors. This overall risk factor is represented by a number to signify your company’s level of risk. If the number is 1, it means you are about average on the risk scale and are paying an average premium. If, for example, your number is 0.5, your risk level is deemed lower than average and you are paying less. However, if your risk level is up at 1.5, this signifies a greater level of risk, and as a result, you will be paying more than average.

So, it is important for companies to assess what kinds of safety risks exist in the workplace so that they can address the problems. Most injuries result from such things as slipping, tripping or falling. Other injuries happen from lifting.

If you want to reduce the risk of injury, you should make sure you have a workplace safety plan. This plan will cover all of the potential causes of injury a person would be exposed to in the workplace and how to avoid them. The plan should also cover what actions to take if a person should sustain an injury. Every employee should receive a copy of the plan. The company should also hold ongoing safety training programs to make sure employees are up to date on safety procedures.

It may also help to procure the services of a safety consulting firm who can help you to find the places that are significant safety risks.

If your company is looking for people who can make a difference and have an impact, Arrow Staffing can help. We provide only the best people. Give us a call today.

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