Skip to Content

Hi , welcome back. Ready to complete your application? Click here »

Strategies to Reduce Workers’ Comp Costs


Working through the new normal has business owners re-evaluating expenses and identifying opportunities for savings. Insurance premiums should be no exception. Workers’ compensation is an important coverage that protects you and your associates. There are proactive strategies your business can implement to reduce workers’ compensation costs. Today I’ll touch five such strategies that you can start working on right away.

1. Hire Right
  • Review the employment application carefully. Look for gaps in work history or information irregularities. 
  • Require pre-hire drug tests and background checks.
  • Interview well. Not only discuss professional qualifications and skills but also ask questions that provide insight into the candidate’s behavioral traits and potential “fit” with your organization’s performance expectations and culture.
2. Stay on Top of your Workers’ Compensation Claims
  • Have a formal and timely injury reporting process. Train all employees.
  • Work with your workers’ compensation carrier. Understand specific workplace injury claim handling and mitigation strategy.
  • Stay focused on any “open” claims until they are closed.
3. Champion a Return-to-Work Program
  • Work with doctors to understand how your employee is doing and determine what type of adjusted work or modified hours can help get them back to the work environment as soon as possible.
  • Be creative with modified work opportunities.
  • Train your leaders on the benefits of a return-to-work program.
4. Know your Worker’s Compensation Experience Modification or E-Mod
  • Check your losses reflective in your E-Mod versus what is show in your insurance carrier loss runs.
  • Understand all the factors that drive your E-Mod calculation.
  • Lower losses (frequency and severity) will help reduce your workers’ compensation costs.

5. Walk the Talk

  • Consistently communicate the importance of workplace safety.
  • Be an advocate for employee wellness programs and services.
  • Create incentives around workplace safety and employee wellness.

The new normal presents all of us with an opportunity to challenge our ability to embrace change, think differently, and adapt. I hope some of the strategies I shared here today are helpful as you strive for success in the new normal.




Download: Strategies to Reduce Workers' Comp Costs

Related Posts

Workers' Comp

Workplace Violence

Workplace violence is on the rise across the U.S. Here are some steps you can take towards creating a safer working environment.

Workers' Comp

Empathy in the Workplace

According to a recent study, 96% of employees consider it to be important for their employers to demonstrate empathy, but 92% believe this trait is undervalued in their workplace.

Workers' Comp

Workplace Injury Reporting

When a workplace related injury occurs, it triggers a sequence of events and activities that can last days, weeks, or even months.

Back to top