Understand risk management and how you can reduce workers’ compensation costs and minimize risk.
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Workplace Injuries & Safety Programs By The Numbers
Employers across the United States pay billions of dollars on workers’ compensation claims each year. Additional costs include loss of productivity, time spent managing the administration of claims, and time invested in hiring or training new employees.
The good news is that workers’ compensation is an expense that can be managed in part with a workplace injury and illness prevention program. Let’s take a look at the numbers.
The Bad Numbers
$100.2 billion –
The amount paid by employers for workers’ compensation claims.
7 million –
The number of people who suffer workplace injuries each year in the United States.
4,764 –
The number of people who die from workplace injuries each year.
27% –
The frequency of workplace injuries from falls or slips.
5x –
How much more likely that drug users will file a workers’ compensation claim.
3.6x –
How much more likely drug users will be injured on the job.
$1.00 –
The cost of workers’ compensation costs per $100 of covered employee wages.
The Good Numbers
1970 –
The year the Occupational Safety and Health Act (OSHA) was signed into law.
60% –
Decline in workplace injuries and deaths since OSHA became a law.
43% –
Increase productivity from employees who follow workplace safety programs.
34 –
Number of states that require or encourage workplace safety programs.
28% –
Reduction in cost for businesses that use workplace safety programs.
7% –
Increase in employee retention for businesses that use workplace safety programs.
6% –
Increase in employee morale and job satisfaction for businesses that use workplace safety programs.
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Give us a call at 330-659-0100 or fill out the form today.
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The Complete Guide to Implement EPLI Coverage Within Your Business
Free PDF Download
This guide provides you with insights into the importance of implementing EPLI coverage in your business. You’ll gain a better understanding of the following:
- How to prevent an employment-related lawsuit
- Why small businesses should have this coverage
- What’s not included in EPLI coverage
- Frequently asked questions
