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When you hire employees, you are legally obligated to cover the costs of work-related injuries at your company. Here are five things you need to know about workers compensation.
1. Carry Workers Compensation Insurance
Workers need to be insured against work-related injuries. These injuries may come about because of a one-time incident. Or they could occur from repetitive events over time. Moreover, if your employees are injured while they are working for you, you are liable for any costs that arise from those injuries. Therefore, workers compensation insurance is essential for your business.
However, depending on where your business is located, you may or may not be required to carry workers compensation insurance. In most cases, though, you can purchase a policy from your private insurer. What’s more, deciding to do so is certainly a wise decision. Click here for a guide to workplace compensation.
2. Follow Local Laws
You must follow local laws when it comes to safety and workers compensation. In the United States, each state has different laws. However, all of these laws protect both the worker and the employer from costs arising from work-related injuries. You must therefore learn about local laws and follow them. If you’re unsure, speak to a workcover lawyer. It is important that you understand your legal obligations.
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3. Workers Compensation Can Include Offsite Injuries
If you send a worker out on an assignment and they sustain injuries there, you’ll be liable for any injuries they suffer. That’s because, regardless of where they’re working, you’re liable for any injuries they sustain while they’re working for you.
4. Workplace Injuries Are Expensive
Fortunately, workplace injuries are fairly rare. Nonetheless, a compensation claim could end up on your desk at any time. Therefore, ensure that your facilities are up to code. Additionally, make sure that all of your employees know and follow the required safety standards.
It is also important to note that workplace injuries are expensive. This is true for your company because of lost productivity as well as the cost of medical care. However, these injuries are also costly for injured employees. That’s because of lost wages as well as the pain and suffering that serious injuries can cause. Moreover, workers compensation insurance, as important as it is, rarely covers every single expense.
5. Aim to Reduce Workplace Injuries
While you may never succeed in eliminating all safety hazards, you can aim to reduce workplace injuries. Begin by implementing procedures and practices that make safety a part of your company’s culture.
Additionally, if needed, upgrade your facilities. In order to be certain that the changes you make are up to code, invite a safety survey company to inspect your facilities. Implement as many of their recommended changes as feasible. Moreover, make sure that all employees know how to contact emergency medical personnel immediately in case of a workplace accident.
Without your employees, your business would be unable to survive, let alone thrive. Moreover, it is legally your responsibility to provide for their care in the case of a work-related injury.
In conclusion, it just makes good business sense to provide for your employees’ safety while they’re working for you. What’s more, it is a wise employer who plans for the worst-case scenario by purchasing workers compensation insurance ahead of time.