If you own a small business, there’s a good chance you need to carry workers’ compensation insurance to cover any work-related injuries or illnesses. Requirements for workers’ compensation coverage vary by state, with some states requiring businesses with as few as one or two employees to carry workers’ compensation insurance. Applicable companies that don’t comply will face penalties ranging from fines to criminal charges.
Of course, carrying workers’ compensation insurance has some financial challenges as well. Between premiums and other factors, managing workers’ compensation has a direct impact on your business’ bottom line. Let’s break down how workers’ compensation affects your business and what you can do to lower your financial burden.
A workplace accident can be a life-changing event, both for the person injured and an employer. A serious injury can change someone’s life, which in turn can place your business under the spotlight for both the injured employee’s family and OSHA.
While you can’t heal someone’s injury after the fact, there are ways that you can definitively respond to workplace injuries to help avoid future accidents and avoid OSHA intervention. Here’s an example of how GMS helped one company avoid OSHA scrutiny and put practices in place to prevent additional workplace injuries.
Workplace injuries are a serious concern for any business. Not only can an injury gravely impact the wellbeing of one of your employees, it can also cause OSHA to come knocking at your door.
A serious injury can lead to months of headaches and serious fines, but there are ways you can act to mitigate, or even avoid, OSHA intervention. Here’s how GMS was able to get OSHA to complete an investigation without coming on site or issuing a citation after a notable workplace injury.