Eight Proven Steps That Are Guaranteed To Reduce Your Worker Injury Costs By 25% Or More!

Source: CompEraser, Inc.

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Proven Cost Reduction Strategies Are Revealed That Consistently Minimize The Cost of Workers Compensation Programs

Written by:
William C. Reynolds, CPCU, CEBS, MBA

Thank you for requesting my FREE Special Report titled "Eight Proven Steps That Are Guaranteed To Reduce Your Worker Injury Costs By 25% Or More." I realize the word "GUARANTEED" is a very strong word. However, the steps outlined in this Special Report have consistently produced these results. In fact, as part of my service agreement for corporate Clients I often guarantee these results. How and why can I do this... because these methods work! This Special Report was written specifically to provide companies like yours with additional tools that, if implemented properly, will significantly reduce the total cost of your workers compensation program by 25% or more.

But at the outset I must give you one word of caution...

The suggestions contained in this Special Report must be designed and implemented with your unique operational characteristics in mind. This is NOT a cookie-cutter approach. So if you are looking for a "quick-fix," close up this report now and move on. On the other hand, if you want insight into how to understand and address many of the fundamental dynamics within your company that are driving your worker injury costs...then read on!

As a safety and heath consultant I have been working in partnership with corporate Clients for years in an effort to reduce their worker injury costs. In the process I have studied in detail how the workers compensation system works - both from loss prevention and claim management perspectives.

What has consistently bothered me is the linking by many corporate Clients of insurance premium with total workers compensation costs. I say this because, while insurance premiums are certainly important, ultimately the cost of your workers compensation program are a function of your claims - not insurance premiums.

Making matters worse, only 25-40% of the total cost of workers compensation claims are transferable to an insurance carrier. The remaining cost still hits your bottom line - and hits it hard. These "hidden costs" are the result of the marginal inefficiencies to your manufacturing process as a result of a work-related injury. Examples of these "hidden costs" are:

  • the productivity that is lost from the involvement of supervisors and other plant personnel in response to an injury;
  • the productivity that is lost from other employees who are shaken and disturbed by the event;
  • damage to machinery and other property;
  • administrative cost of monitoring the claim within the Human Resources department;
  • increased costs due to production slow downs and increased overtime;
  • increased training costs required in hiring new / temporary workers;
  • unfavorable impact on your experience modification;
  • increased insurance premium over three (3) years due to a increase in your experience modification.

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CompEraser, Inc.