The cost of workers compensation insurance is significant to employers, especially those who have workers in hazardous job classifications.
The most effective way to cut costs on workers compensation premiums is to prevent workplace injuries before they occur. Companies can do this by implementing an effective safety program. If an injury does occur, the next best way to cut costs is to manage the injury though implementing a reporting procedure and return-to-work plan.
When done correctly, safety programs lead to fewer lost-time injuries, improve productivity, and save employers significant money in the long run.