The management of your Work Comp Premium begins with the person you are interviewing for that open position! Employer workers compensation risk management and hiring are closely tied together. Many times employers are motivated by the need to fill a seat and there is little consideration of whether the person hired is able to do the job. If you have ever found yourself wishing you had not hired a particular person, you know what I mean.
When employers focus on the hiring process before they have an open position, they are equipped to make the right hire. Without a process in place, employers are more likely to make a hiring decision based on emotion or simple short term need. Unfortunately, this approach can have a long term impact on your work comp premiums. Remember your workers compensation experience modification is impacted by claims for 3 years!
A good hire not only impacts your productivity and potentially your workers compensation premium but also your other employees. You probably have experienced the impact of a highly motivated and qualified employee being added to your staff. That person has the ability to raise the bar for all other employees. You may have also had the opposite. When you hire an unmotivated or unfit employee, other employees must share a greater burden of work and may become less driven towards your goals as an employer.
To get started on developing your own hiring process, you might want to take a look at the
steps suggested by MyEmploymentGuide.com. This is a simplified process but for those who need a starting point, this will help.
When considering the time and cost of making a good hire, the impact on your work comp premium will make your investment in the hiring process worth the effort!