Tangible Benefits to Controlling Workers Comp Costs
A Fresh Approach to Controlling WC Costs
Studies indicate there is a return on investment and that companies see direct bottom-line benefits with a properly designed, implemented and integrated safety program.
• A competency-based safety program is compliant with OSHA requirements and therefore reduces the threat of OSHA fines.
• A competency-based safety program lowers accidents, which reduces workers’ compensation costs. When incidents do occur, a competency-based safety program fully evaluates the issue and finds the root cause to prevent reoccurrence and provides a workplace that is free from recognized hazards.
• A safer workplace creates better morale and improves employee retention. Auditing keeps your programs fresh and effective and drives continuous improvement.
• A competency-based program produces people who are fully engaged in every aspect of their job, which results in high-quality goods and services.
If your business is dealing with rising workers’ compensation costs as a result of workplace accidents, it’s time to take a new approach to safety. The key to spending fewer dollars is more than just stopping a few accidents on the manufacturing floor; it requires a comprehensive safety program designed to continuously improve. A safety program that is compliant with Occupational Safety and Health Administration (OSHA) standards can yield significant savings for by reducing injuries and illnesses, saving workers’ compensation dollars over the long run.