The Best in a Workers Compensation Program
September 29, 2015
When we are described as “the best” in our fields or areas of expertise we are generally compared to individuals or businesses doing similar tasks. The National Underwriter’s from PropertyCasualty360 did such a comparison of businesses that showed excellence in workers’ compensation risk management.
In this blog we have highlighted some of the key components of the Southwest Airlines workers’ compensation program recognized in the study. We feel these practices are significant for our customers to consider adopting as part of their workers’ compensation program.
- Take ownership of your program – Just as businesses have to address concerns of their stockholders, so should you take care of your employees as they are a vital component of the success of your company.
- Mitigate problems from within your organization – Let your employees know that your first concern is for them, their safety, and their welfare.
- Customer Service-Employee Service – Just as we all strive to give our customers the “best” customer service, you should also strive to give your employees the “best” employee service. From date of hire and throughout their tenure, you should provide education and safety procedures for all activities and update safety procedures as needed.
- Research tasks or safety procedures for your workforce – Invite physicians and other healthcare professionals to tour your building and offer suggestions regarding alternate ways to do a task with safety in mind.
- Create a “Return-to-Work” program – If your business structure permits, create a modified duty or hours scheduled for injured workers centered on the employee’s safe return to work.
When Southwest Airlines met with the seven major airline carriers to do some benchmarking on WC costs, SWA’s found that in the past six years their average incurred and average paid-on-indemnity claims was about 40% less than other airline carriers; its litigation rate about 40% lower than the other carriers; and their average lost work days per claim about 15 days fewer than other carriers. These numbers are largely due to the manner in which they approach their workers compensation program by integrating service providers, claim adjusters and supervisors, the person on the workers’ comp team who is responsible for that particular area of the company, the airline’s workers’ comp attorney, outside attorneys, the dedicated nurse supervisor, the managed care and pharmacy benefit managers, and occasionally leaders from the employee’s local work location if questions are raised about specific claims.
Whether your business is large or small, percentages such as these could represent considerable savings for your company’s regarding Workers Compensation program. Read the entire article highlighting the Southwest Airlines program from propertycasualty360: Winners Circle: Aces High
We hope you have found this blog educational. At The Armstrong Company Insurance Consultants we strive to keep you informed. Contact our experienced licensed representatives to help you with your Workers Compensation and other risk areas for your company or Request a Quote online today. We are here to work for you!