[et_pb_section fb_built=”1″ admin_label=”section” _builder_version=”4.16″ da_disable_devices=”off|off|off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row admin_label=”row” _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text admin_label=”Text” _builder_version=”4.20.2″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”]
“ I think a really important thing to know is that the workers comp costs are a lot more controllable than business owners realize”
In episode #116 of Mission to Grow, the Asure podcast that serves as small business owners’ guide to cash, compliance, and the War for Talent, VP of Partner Strategy at E-COMP, Robert Campbell, sits down with host Mike Vannoy to break down the three big buckets of cost control: risk management, claims management, and insurance policy management. We discuss the importance of HR infrastructure, company culture, and the surprising impact of 1099 contractors on workers’ compensation.
- Workers’ Comp Costs Are Controllable: Many business owners underestimate how much control they have over workers’ compensation costs. With the right strategies, costs can be managed effectively.
- Three Big Drivers: The main areas to focus on are risk management, claims management, and insurance policy management. These areas provide significant opportunities to control costs.
- HR Infrastructure Is Critical: A strong HR infrastructure, including proper incident reporting and documentation, is essential for minimizing fraudulent claims and providing the insurance company with the tools needed to fight unjust claims.
- Company Culture Matters: A positive company culture can prevent employees from exploiting the workers’ comp system. Conversely, a negative culture may encourage employees to file claims unnecessarily.
- 1099 Contractors Are a Risk: Mismanagement of 1099 contractors can lead to unexpected workers’ comp liabilities. It’s crucial to understand the risks and manage them effectively.
Explore our Payroll & HR solutions that boost back-office efficiency to enable your business to scale.
[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]
