Top 10 Tips For Saving Money On Mississippi Workers’ Comp

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...and the benefits of a formal return-to-work policy

Fortunately, there are many ways to save on workers’ compensation costs and the most effective method is to formally cultivate an organization-wide culture of safety. Starting with the advice you get from your insurance broker, identifying and mitigating the risks specific to your industry and your business.
Saving Money on Mississippi Workers’ Comp - a Top 10 List
The following are the top tips culled from veteran business owners and used to keep workers’ compensation costs as low as possible:

1.Start with a review of your company’s past and current claim history to identify the ‘low-hanging fruit’, or the known problem areas.

2.Then work with the trusted advice of your insurance broker who knows your industry and your risks as well as anyone can.

3.Establish a drug-free workplace. Employed drug abusers cost their employers twice as much in medical and worker’s compensation claims than their drug-free counterparts.

4.Screen new hires and make job offers dependent upon passing a pre-employment screening test, then ...
... follow up by implementing random employee drug testing.

5.Get employees involved because they know the hazards they avoid every hour, every day.

6.Offer regular training to employees on first aid, CPR, AED, and designate certain employees to specialize in types of emergencies.

7.Develop procedures for immediate reporting of incidents and review those procedures with employees regularly.

8.Improve the high risk operations identified in this process. Educate employees on the risks and how to avoid them.

9.Practice what you preach! Letting employees see management actively adhering to and enforcing the company’s safety policy is a great way to show that your company is behind the work smart campaign.

10.Establish a return-to-work policy that gets employees back on the job and re-engaged with the company.

All of these practices are essential to keeping your employees safe, but the secondary benefit is reduced workers’ compensation costs. Work with your insurance broker for the best ways to earn your cost savings.

Read on to see why a formal return-to-work policy is a great addition to your Mississippi workers’ comp plan...

What a Formal Return-to-Work Policy does for your Workers’ Comp Plan

No one benefits from a worker staying at home waiting around for things to get better. Just like any well-oiled, well-maintained machine, all the parts of your business have to be working well together to get the job done. Teamwork, responsibility, and accountability are all good parts of the workplace culture and that alone should make it easy for employees to want to return to work after an injury.

A formally defined return-to-work policy is a great addition to your workers’ compensation program. All the same rules apply - injured workers get the best care possible and are assisted throughout their recovery process - the only difference is that the injured workers returns to work in some capacity sooner rather than later. Comprehensive return-to-work programs categorize light duty and modified duty positions in all departments. The injured worker fits easily back into her or his rightful place within the company without the need for hiring temporary workers to fill their shoes.

The best benefit, of course, is that the injured employee is back on the job and feeling involved with the business, helping maintain productivity, and reducing their recovery time. Getting the right advice on how to craft your Mississippi workers’ comp plan is important, so don’t ignore it.

This article is authored by the content management team at Nowell Agency, Inc. We have been in the business for nearly three decades, providing a wide range of business insurance, personal insurance, and risk management products to the people and companies of Mississippi as well as the southeastern U.S. Contact us to consult an experienced and knowledgeable insurance broker about your Mississippi workers comp requirements.