It’s now been years since the onset of COVID-19, but the global supply chain is still feeling the impact, as the crisis tipped off supply chain issues that have yet to be reconciled. This has many employers wondering how to maximize profitability during continued market uncertainty.

Hiring seasonal employees is a great way to bolster a workforce during peak periods such as holidays or any time there’s a significant uptick in business activities. However, hiring and reliance on seasonal workers can present significant and unexpected challenges for employers.

Companies that are committed to reducing worker’s compensation costs should place strong emphasis on developing a comprehensive safety program that’s compliant with Occupational Safety and Health Administration (OSHA) standards. This type of program can yield significant cost savings and – more importantly – help minimize workplace injuries and illnesses.

Cyberattacks have been a growing concern for employers across the globe in recent years. Often, cybercriminals breach organizations via their employees. All it takes is one employee clicking on a phishing email (a fraudulent message intended to trick recipients into compromising critical data) for a cyberattack to originate.

An efficient and effective return-to-work (RTW) program can significantly reduce workers’ compensation costs for employers while improving the lives of employees by getting them back on the job following a work-related absence due to injury, illness or chronic disease.

Decades ago, it was not uncommon for a business to pay directly – rather than report – their company’s small claims. The thought was to avoid having those claims count against the experience modification factor (the “mod”). For Workers’ Comp insurance, medical-only claims are an important element in the experience modification rating process, and in many states these claims are reduced by 70% for the mod calculation. This reduction is known as the experience rating adjustment (ERA).

While inflation has always been a concern within the commercial insurance market, over the past year inflationary pressures have influenced various sector trends – including labor shifts, employee wages, medical expenses and rate adequacy challenges.

According to a recent study by the National Safety Council, the average workplace injury results in 21 days of disability. This means that some workers are able to return to work fairly quickly (if they even miss any time at all), while others experience long-term disabling effects from their job-related injuries.

When it comes to workplace safety, there are few roles more influential than that of the supervisor. While handling the everyday situations that help ensure a company’s efficiency and success, supervisors are an integral part of workplace safety programs. Such programs utilize risk management techniques to keep employees safe on the job, thus reducing workers’ compensation costs.

When a worker is injured, there are specific timelines to follow and forms to complete with respect to workers’ compensation insurance. But what about when a worker is injured and refuses to accept treatment or file a claim? What are your responsibilities as the employer? While the exact legal answer depends on your situation and state laws, consider the following to limit your liability.

The key to controlling your workers’ compensation costs is understanding your experience modification factor. Your “mod factor” is an adjustment to your workers’ compensation premium that’s based on your company’s actual losses compared to the expected losses for your industry.

Navigating a workers’ compensation claim can be a complicated and costly process if it’s not resolved in a timely manner. However, there are a number of measures that you can take to reduce the complexity and cost of a claim. The following content presents an overview of when employers should report workers’ compensation claims and how this process can help prevent unnecessary costs.

When a workplace injury occurs, a number of events are put in place that will ultimately lead to recovery – whether it takes days, weeks or months. But no matter how prolonged the recovery period, the first 24 hours after an injury are the most crucial.

As the popularity of electric vehicles continues to soar, so does the need for electric vehicle charging stations. In fact, this amazing growth has prompted many companies to consider installing vehicle charging stations, also known as electric vehicle supply equipment (EVSE) stations. EVSE stations can be a large asset to your business; they can increase employee retention, improve your image and help you meet sustainability goals. However, the costs and risks of adopting a new and evolving technology can be even more significant if you don’t take all of your unique considerations into account.

There are a number of factors that impact the pricing of your workers’ compensation premiums. Among the most important are the classification codes for each type of work done at your business. Each of these codes has an associated loss cost that represents the expected amount insurers will need to pay for a claim. And even though each of these costs are standardized by the National Council on Compensation Insurance or state governments, your actual premiums may be higher because of a concept called loss cost multipliers.

While the COVID-19 crisis has seemingly upended the entire world, the light at the end of the tunnel is becoming brighter with each passing day. This is great news for businesses across the country. Yet, in the wake of the pandemic, organizations will need to adapt to a number of fundamental workplace changes.