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Tag: workers compensation

  • How to Avoid Costly Workers’ Comp Mistakes in 2025?

    How to Avoid Costly Workers’ Comp Mistakes in 2025?

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    Were you looking for tips online that can help avoid likely workers’ comp claims? 

    As businesses are turning back to traditional mode of operations after the pandemic, employees are being called back to the office. While this shift boosts productivity, it also increases the risk of on-site accidents.  

    Accordingly, workplace injury cases rose year-over-year, per the most recent Bureau of Labor Statistics (BLS) data. In this scenario, it is crucial to be aware of how your business can legally minimize the worker’s compensation share. To help you in this regard, here we have provided a quick guide.  

    Tips to Manage Workers’ Comp Claims Efficiently in 2025 

    A positive aspect is that most common compensation claims can be restricted by staying vigilant and proactive. Here are a few practical tips in addition that can ensure sure shot success: 

    Maintain a Dry, Clean and Clear Workspace 

    Governmental regulatory bodies hold employers responsible for providing their workers with a safe working environment. Thus, the HR department needs to ensure that office spaces are regularly cleaned. Moreover, maintaining safety and hygiene protocols in various common areas such as entryways, washrooms, and receptions is crucial.  

    Finally, the company must give its employees personal protective equipment (PPE) and implement necessary changes, like replacing air filters and adjusting lighting whenever required. 

    Conduct Safety Training Sessions for Increased Employee Awareness 

    A business should focus on generating updated training and safety policies that align with modern requirements. This ensures that both the employees and the employer are on the same page.  

    To eliminate costly compensation instances, it is essential to provide proper training whenever someone new is about to start using office equipment. Even experienced individuals should attend refresher courses occasionally to be on par with the new rules and policies.  

    Ensure Adequate Workforce is Available at all Times 

    Particularly growing businesses that often operate with limited resources, may be tempted to downsize with the intention of managing costs efficiently. However, this can result in unnecessary stress on the existing staff, potentially leading to careless mistakes.  

    In some cases, an overburdened worker may also suffer injuries due to work pressure. Hence, these situations must be mindfully avoided to prevent adverse legal and financial consequences for your company. 

    Encourage Employees to Take Frequent Breaks 

    Recent reports indicate that employees who go for occasional breaks during their shifts can showcase more productivity while at work. This is because they tend to have more energy and are therefore likely to achieve their day-to-day professional goals.  

    Do the strategies discussed above seem too overwhelming for you to implement all of a sudden?  

    If so, then instead of worrying excessively, you can partner with a Professional Employer Organization (PEO). These companies act as valuable assistants for business owners helping them assess various risks and rectifying potential issues. 

    Review the Existing Claims 

    Finally, companies need to carefully review their employee claims and double-check the issues to ensure they are accurate and valid. These actions involve checking medical bills and making sure that all employees are receiving proper medical attention for their injuries. 

    The HR department of a company must ensure that workers are receiving adequate support to recover as quickly as possible. Additionally, it falls within their responsibilities to verify the authenticity of a claim to determine whether it falls within the policy’s coverage limits. This is the most effective way of controlling workers’ compensation costs by nullifying incorrect claims. 

    Final Words 

    Efficiently taking control of your workers’ compensation costs may not happen overnight especially when you are operating in a high-risk industry. This is because first of all, you will need an expertly designed workers’ compensation policy for which you can rely on a risk management expert.  

    So, do you want to safeguard your business starting from today? Let’s chat — contact us and schedule your free consultation now! You may also visit our blog section for more free tips on how to streamline your business operations from now on.  

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    Contact Us

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    Fill out the form below and we will contact you to schedule a chat.

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  • This Company is Paying 42% More Than They Expected for Workers’ Compensation. Are You Also Paying More Than Anticipated ?

    This Company is Paying 42% More Than They Expected for Workers’ Compensation. Are You Also Paying More Than Anticipated ?

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    Do you not know how much compensation to workers needs to be paid? Are you doubtful you are paying higher workers’ compensation to your employees? The Workers’ Compensation Act of 1923 mandates a certain amount of indemnity for injuries and damages occurring to employees at workplaces. However, the compensation amount may vary from one state to the other. The recent updates state that employers need to pay 0.93 cents for each $100 to the employees as workers’ compensation. 

    If you are paying a higher workers’ compensation to your employees than this expected amount, this blog can be helpful.

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    8 Strategies to Reduce Workers’ Compensation Expenses

    Some organizations are not aware of the average rate and end up paying higher compensation to the employees. So, here are 8 ways to reduce workers’ compensation costs for employers:

    Improve Workplace Safety

    One of the most effective ways to reduce workers’ compensation costs is by creating a safe working environment for your employees. This includes implementing safety protocols, providing safety equipment, and conducting regular safety training for your employees. By reducing the number of workplace injuries and illnesses, you can significantly lower your work compensation costs.

    Investigate the Reported Incidents

    It’s essential to investigate every incident, no matter how small. Investigating incidents can help identify potential safety hazards. It can also provide insight into how to prevent similar incidents from occurring in the future.

    Seek Assistance from a PEO (Professional Employer Organization)

    A PEO can help to reduce workers’ compensation costs by managing employee benefits, including workers’ compensation insurance. A PEO pools multiple businesses together and then negotiates better rates for workers’ compensation. Consequently, it will lower costs for individual businesses.

    Implement Return-to-Work Programs

    Return-to-work programs can reduce workers’ compensation costs by helping employees return to work after an injury or illness more quickly. These programs can include modified duties, temporary job placements, and rehabilitation services to help employees return to work as quickly and safely as possible.

    Manage Claims Effectively

    Managing work compensation includes promptly reporting and investigating claims, staying in communication with injured employees, etc. You can also work with insurance carriers to manage claims efficiently.

    Offer Flexible Work Arrangements

    Flexible work arrangements, such as remote work or part-time work, can be a cost-effective solution to workers’ compensation. For example, companies have to pay a lower salary to part-time employees than to full-time employees. Remote work eliminates the need for additional office space, supplies, and equipment. Furthermore, flexible work arrangements can improve employee satisfaction, retention, and productivity, thus leading to better overall performance and results.

    Use Contract Workers or Freelancers

    Contract workers or freelancers can be hired for short-term or project-based work. It can help save money on salaries, taxes, and benefits. Contract workers are not entitled to employee benefits, and they are responsible for paying their taxes. Thus, it can reduce the company’s financial burden. Moreover, hiring contract workers allows employers to avoid the costs of hiring and training new employees.

    Offer Non-Monetary Benefits

    Non-monetary benefits, such as health insurance, retirement plans, or paid time off, can be used as an alternative to higher salaries. These benefits can be more cost-effective than a higher salary. Moreover, some companies receive tax breaks or incentives for providing these benefits. It can also improve employee satisfaction and retention, leading to better performance and results.

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    Final Word

    Reducing work compensation costs is an ongoing effort that requires a commitment to creating a safe and healthy working environment. By implementing these strategies, you can reduce the cost of workers’ compensation while ensuring employees’ safety and well-being. If you need any assistance regarding employee management and worker compensation contact us. 

    Reference Links:

    https://www.klear.ai/post/reduce-workers-compensation-costs

    https://www.insperity.com/blog/workers-compensation-insurance-cost/

    https://www.hourly.io/post/5-ways-to-reduce-workers-compensation-costs

    https://www.ehstoday.com/safety/article/21912687/spiraling-out-of-control-5-ways-to-reduce-workers-compensation-claims

    https://www.investopedia.com/terms/w/workers-compensation.asp

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    Fill out the form below and we will contact you to schedule a chat.

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  • 6 Mistakes That Lead to Higher Compensation in Companies

    6 Mistakes That Lead to Higher Compensation in Companies

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    Compensation is an important factor influencing a business’s ability to attract talented candidates. Thus, it must be treated as an investment to hire, retain and motivate qualified workers. However, employees typically think they are paid too little, but this must not force employers to pay higher compensation.

    It must be a perfect balance between inflation, demand, competitor package, and other factors. While it is impossible to get everything right, one can try and reduce their mistakes to a minimum by identifying the common ones.

    Interested to know more? Then check out the following points mentioning the same!

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    What Are the Common Compensation Mistakes and How to Fix Them?

    Here are some compensation mistakes managements often incur while fixing terms. One should learn about them to avoid them while designing their company policy and ensure a competitive, fair pay system:

    • Ignoring Organisational Goal

    An organization can maintain the most effective pay policy only when the needs of its employees are aligned with the company’s target. So, before setting employee compensation and salary, management must always consider company goals. Later, craft the compensation in a way it meets these goals.

    • Not Negotiating Salary Terms Well

    Companies often have a disparity in their pay. While some can negotiate their salary term better, some can not. This leads to differentiation in pay for men, women, people of color, and other classifications. So, management must ensure they pay their employees according to their compensation strategy and not based on their negotiation skills.

    • Not Considering Employee Performance While Matching Competitor Package

    It will be wrong if a company maintains a competitive system of raises, compensation, and promotion among similar employees. Rather companies must set a benchmark to identify if an employee is being overpaid or underpaid concerning their performance. Also, one must consider these while reviewing annual performance to simplify data-gathering.

    • Considering Wrong Survey for Decision-Making

    It is a common practice among companies to review salary surveys available in the market to determine what competitors of similar industries, sizes, and locations are offering to their employees. However, companies must understand that many tend to exaggerate the job and pay level. Also, there are times when surveys may match the job but not a job description. So, it might be misleading.

    • Not Disclosing Every Information Regarding Employee Pay Process

    When employees cannot understand a company’s compensation system or find gaps in policy, they form an opinion that they are receiving an unfair salary. This further lead to low employee engagement and increased turnover. However, management can avoid this by paying little attention to maintaining transparency and educating team members about what they can do to earn.

    • Ignoring Pay Equity 

    Pay equity is an important factor that employers often miss to maintain. However, this can attract several actions among the company since now legislators are incorporating pay equity law under which employees have the right to get share pay information. Not to mention, salary information is easily available online. So, if an employee does not get fair pay and he or she finds out about it, it can increase penalties and damages for violations. Therefore, companies must maintain parity in pay.

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    With so many complexities involved in figuring employee compensation, companies should get professional help. Those looking for experienced management assistance can contact us. We can maintain a simplified and accurate system of payroll, employee compensation, HR, and risk management services to improve company productivity and turnover. Remember, employee compensation is one of the company’s highest operating costs and needs special assistance. Also, if you want to read more about management and other services, check out our blog section now.

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    Reference Links:

    https://www.payscale.com/compensation-trends/5-mistakes-pay-brand/

    https://www.terrastaffinggroup.com/resources/blog/compensation-mistakes/

    https://hrdailyadvisor.blr.com/2012/04/28/the-six-most-common-compensation-mistakes/

    https://sbshrs.adpinfo.com/blog/8-compensation-mistakes-and-how-to-avoid-them

    https://www.compa.as/blog/common-compensation-mistakes

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    Contact Us

    Find out if a PEO is the right solution for your business.
    Fill out the form below and we will contact you to schedule a chat.

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  • Know About South Florida Workers’ Compensation Law for Trucking Business

    Know About South Florida Workers’ Compensation Law for Trucking Business

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    The state of Florida requires every employer to cover the workers’ compensation of their employees. However, the coverage requirement for an employee may differ from one employer to another. For example, it depends on the number of employees, type of industry, and entity organization. 

    Want to get more insight into how much your company is liable to pay as workers’ compensation? What if one does not meet it? Read along to find out more on this!

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    How Much Does a Trucking Business Have to Pay as Workers’ Compensation?

    A business involved in a trucking operation must protect its employees from injuries and employers from a lawsuit by covering them under workers’ compensation insurance. According to the law, the minimum requirement is $ 100,000 per occurrence, $ 100,000 per occurrence by disease, and $ 500,000 aggregate. 

    However, this rate may vary depending on factors like –

    • Employee’s payroll
    • Location of business
    • Industry and its risk factors
    • Employee number
    • Claim history
    • Coverage limit

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    Who Gets Coverage under Workers’ Compensation?

    If a business has four or more employees, it is mandatory to get workers’ compensation insurance. This insurance will cover the medical and hospital bills of the employees. In addition, it pays for temporary total disability costs, ambulance costs, and permanent disability. However, the truck driver must have got injured due to the following reasons only:

    • Injured while unloading or loading freight
    • Got wounded in an accident
    • Slipped and got injured while entering or getting out of the truck
    • Got hurt when carrying roadside repairs of the truck

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    What Happens in Case of the Non-Compliance with Workers’ Compensation Law?

    Employers in the state of Florida who do not provide workers’ compensation to their employees attract several civil penalties. The most immediate one is that the company must stop its operation immediately until it complies with legal rules and pays the required penalties. 

    This penalty charge usually amounts to double the insurance premium payable by the employer for the previous two years. In addition, if the employer does not comply with this stop-work order, he or she may also be liable for criminal charges. 

    So, it is paramount for an employer to bear this cost. However, one can always reduce the burden by controlling the premium amount, incorporating cost-saving measures, and avoiding accidents.

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    How Can Companies Reduce Workers’ Compensation Cost?

    The following are some practical ways that companies can adopt to reduce their workers’ compensation costs:

    • Introducing Safety Program

    When companies take measures to avoid accidents even before they occur, it reduces their workers’ compensation cost-effectively. The best way to do so is by introducing a safety program to keep the employees safe. One can also take safety training at regular intervals for the purpose. 

    • Implementing Return-To-Work Program

    The claim becomes costlier day by day until the worker comes back to work. So, to save the company money, one must implement a return-to-work program either by allowing them to cover light-duty hours or work on a part-time basis. This also lowers the risk that employees might never return to work. 

    • Partnering with a PEO

    To help reduce the cost taking the help of a PEO can be an ideal decision. A PEO assists by maintaining a lower number of claims, looking after the company’s safety measures, and managing the worker code to reduce workers’ compensation insurance premiums. 

    Apart from reducing workers’ compensation costs, there are also other managerial areas in which a trusted PEO can help you. So, if you are looking for professional assistance in maintaining your company’s payroll, worker management system, cost control, compliance with HR terms, and assistance in employee recruitment, contact us. To increase your knowledge about what we do, you can also scroll through our blog section.

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    Reference Links:

    https://www.commercialtruckinsurancehq.com/workers-compensation-for-truckers

    https://www.insureon.com/small-business-insurance/workers-compensation/florida

    https://www.barbeejackson.com/workers-comp/florida-workers-comp-trucking/

    https://www.findlaw.com/state/florida-law/florida-workers-compensation-laws.html

    https://www.cornerstonepeo.com/post/how-companies-can-reduce-workers-comp-costs

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    Contact Us

    Find out if a PEO is the right solution for your business.
    Fill out the form below and we will contact you to schedule a chat.

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