In addition to risk reduction, there are other steps you can take to lower premiums and cut down workers' comp claims.

Alternative work programs
The biggest workers’ comp expense for employers is the time employees spend convalescing at home. By letting these workers take on alternative responsibilities that they can handle until they recover fully, you can get them back on the job as quickly as possible.

Financial measures
Make sure your state workers’ compensation rating bureau inspects your workplace to ensure that each employee is appropriately classified. Premiums for employees with risky job responsibilities will cost more, so you may want to reassess the number of employees you need in those positions. Also, workers who perform multiple job responsibilities may be classified according to how they spend their time.

It’s also helpful to develop a medical fee schedule. Setting up fee schedules for general office visits and physical therapy after a workplace accident can help control costs and ensure injured employees get necessary services and medications at predictable prices.

Develop rapport with employees
Your staff may not understand what it costs to provide workers’ compensation coverage, so it’s up to you to show them. Be up front about how much you pay for each employee and stress how multiple claims can impact everyone in the company. Always share the latest issues and policies that affect your industry with your employees so that they understand the importance of maintaining workplace safety.

Finally, look for ways to reward employees who demonstrate a commitment to long-term safety. Acknowledging employees’ efforts to keep a safe work environment can go a long way to show you appreciate their efforts. With employees working to keep everyone safe, you’ll be on your way to a safer office and lower premiums.