Accidents reduce the size of paychecks
Many employers try to find ways to get employees to do their job as safely as possible. An effective way might be to explain that workplace accidents cost employees in their paychecks.
Part of the insurance premium that Labor & Industries charges a company is also passed on to employees in their paychecks. If your business is accident prone, everyone’s take home pay will be affected.
It benefits employees to remain safe in order to keep insurance rates as low as possible. A good safety record also can earn a company accident-free discounts (just like your car insurance).
Lower rates mean that the employee portion of the premium will also go down. Employees who see unsafe work habits should remind their co-workers that accidents cost all employees in smaller paychecks.
Here is a link to an example of how the rate change affects take home pay. The term “experience factor” refers to an insurance calculation that compares a company’s actual injury losses and its expected losses. Insurance expenses rise as an experience factor rises.
Rick Means, WRA’s Safety Specialist, is available to members to help draw up safety plans and suggest topics for safety meetings. Contact him at 360-943-9198 x18, or email@example.com.