How To Reduce Worker’s Compensation Claims (and premiums!)

Industry surveys and research reports are a dime a dozen, but some are worth their weight in gold. Here’s a nugget for you, and it’s free to claim. No digging required.

 

 

“A recent survey of more than 600 companies has shown a direct correlation between voluntary accident and disability insurance and a reduction is worker’s comp claims.” -Aflac customer survey

 

A reduction in workers comp claims? How? Why? Let’s take a look at the mechanics of it all, from a policy perspective:

Simply put, it’s a matter of personal responsibility, urgency and ownership. We all know that injuries sometimes go unreported until it’s just too late to ignore them. Minor injuries over the weekend that wait until Monday to hit the reality button. Strains and sprains that may not be work related, but get filed anyway because the aggravation presents itself during the work week. Under no circumstances is the employee intending to defraud or mislead, but the claims do occur because we care about doing right by our employee family.

Imagine a different choice exists for your employees, one where injuries–even minor ones–prompt an immediate doctor visit and filing of supplemental benefits that pay cash quickly for the incident. No hoops to jump through, claims are handled efficiently and promptly (in as little as 4 business days), and the employee receives a cash benefit that is free of strings. When a non-occupational injury occurs, the employee is far less likely to wait for treatment or other medical attention. In this scenario, the employer risk is immediately mitigated and any reporting of the injury removes the association with a workplace event. Because these policies pay claims regardless of the initial injury location, and allow for any medical facility to diagnose and provide care, the employee takes the initiative to seek treatment in a timely manner.

No hoops to jump through, claims are processed in as little as 4 days.

All of this has a secondary benefit for the employer, not just lower worker’s comp claims. The employee has extra money in their budget for immediate use if they miss work. Since follow-up with their doctor is encouraged through the comprehensive claims process, their recovery is not cut short by pressing matters of the pocket. We miss them while they’re gone, but they need to be 100% before things are able to return to normal. Should a true short-term disability present itself, they must be certified by a doctor (thus lowering your risk again) before returning to work. Bills can be paid, stress is lower, and life can return to normal faster.

Don’t offer voluntary short term disability or accident coverage in your workplace or local? You can, and there is never any cost to you to offer them. Why not reduce your risk–and your cost–and offer the most requested supplemental benefits to your employee or union local family?

 

– Tim

The ONE Thing You Need To Do For Your Business, Right Now! (and it’s free!)

When was the last time you had a good picture of your small business service or product? I don’t mean walking the factory, checking in with your managers or running a survey. Those things are good, but the results are skewed at best, just plain misleading at worst. The Emperor’s New Clothes and all that. Sure, do those things when you can, but try this today:

Shop your business. This goes way beyond QC and spot-checking. Take your perspective from outside the door, or at least use the same channels your customers have to use. Take your new imperial clothes all the way out of the building, turn around and engage your business from the street. It sounds easy enough, right? When was the last time you interacted with your own company the way a customer does?

Do you sell products? Buy a few from your sales department. Have them shipped to your home to see the whole process in action. Does your sales team follow up each purchase? Did the shipping department process the order immediately? Maybe your company is a bit smaller, but does everyone look for (and take) opportunities to go the extra mile? Is your latest catalog in the box?

Even a restaurant can do this easily. Call in an order of your best and worst sellers, then pick them up from the counter yourself. Take a look at how your food is presented to a paying customer; you may even understand why that particular menu item is your least popular!

What about your phone system? Is it friendly, up-to-date and functional? You’ve been dialing direct for years, your customers may be hitting the keypad in frustration on their end. Email your sales or support employees–anonymously of course–with a question a customer would ask. See how timely and polite the response is. Call your staff and let them show off their customer service skills.

If you own a service company–no matter how small–you can still experience your company from the outside. Set up a service call, go through the process from start to finish. Do they offer additional services or upgrades? It will be worth it, just to see the look on your employee’s face when they realize you are the customer.

Fortune 500 companies are notorious for letting these kinds of details slip through the cracks. Your edge exists because of that lack of detail, don’t ignore the advantage.

Take a good look at your company, but do it from a customer’s perspective once in a while. Shop your company.