The easiest and most effective way to reduce your workers’ compensation costs is to reduce the number of accidents and injuries in your workplace, but how can you know that you have covered all the bases when working to minimize your Workers’ Compensation costs? It can be a bit confusing on where to start but actually starting the process can be quite easy, as it should be. By being aware of safety issues in your workplace it will help you control unnecessary costs, increase your productivity, and create a safe environment for your employees. You help this by using the 5 Ps of controlling workers compensation costs:
- Pay Attention
- Properly Classify
By using these 5 Ps you can increase the safety of your workplace and reduce the number of accidents, consequently reducing your Experience Modification Factor, or Mod.
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