Tuesday, September 1, 2009

Assessing the Potential for Workers' Comp Losses

When assessing the potential for loss in any enterprise, one must evaluate all factors impacting the ergonomics, hazardous materials, processes, and machinery, in relation to how it could negatively impact the employee.

Pro-active steps must be taken to minimize the hazards which can injure both the employee and the company's bottom line. Mitigating risk to avoid unnecessary expense is an important component of corporate profitability which is all too often overlooked.

From my experience, a heightened emphasis on stronger safety programs with the appropriate controls in place to ensure their success, and with a commitment to meet or exceed statutory guidelines, provides a framework for overall loss prevention and the resultant increase in profitability. Equally important is the continual monitoring of such programs to guarantee that they are both effective and properly used.

Measuring risk levels and maintaining accurate, comprehensive records keeps safety programs relevant to your required level of risk control. For example, a restaurant would not have all the same inherent risks as a manufacturer of aerospace products that utilized exotic metals and chemicals in its processes.

Save the employee....Save the company!

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