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Promoting Employee Wellness: A Key to Ensuring Health and Safety in the Workplace

Posted in: WCB Premium Reduction,Workplace,Workplace Wellness | Posted by braveadmin on October 20, 2023

Employee wellness has been gaining more and more traction over the past few years, especially since the pandemic. It has become a focal point for all businesses, and for good reason. A healthy and happy workforce not only enhances job satisfaction but also plays a crucial role in ensuring health and safety in the workplace. By promoting employee wellness, companies can create a positive work environment, reduce accidents, boost productivity, and ultimately, drive success. With the rise in popularity of the remote office, the crossover between an employee’s work life and home life is even more intertwined. How they are coping and managing at home impacts how they are coping and managing at work and vice versa. Providing a healthy workplace culture can be a supportive reinforcement of a worker’s overall wellness or an incentive to take what is initiated in the workplace and incorporate it into their home life. […]

Maximizing Returns: The Power of Well-Designed Return-to-Work Programs

Posted in: WCB Premium Reduction,Workplace,Workplace Wellness | Posted by braveadmin on September 26, 2023

In terms of human resources and workplace management, the value of a well-designed return-to-work program cannot be overstated. Beyond the immediate benefits of aiding workers with their transition back to their duties, these supportive and inclusive programs send a clear message that resonates throughout the entire organization that their employer cares. A thoughtfully crafted return-to-work program can not only promote employee well-being but also yield substantial financial advantages, including the reduction of Workers’ Compensation Board (WCB) claim costs and premiums. It is widely acknowledged that, in most cases, the shorter the time an injured or ill worker is away from the workplace the less time it will take them to return to their full duties on a full-time basis and return-to-work programs are fundamental in making this happen. The shorter the time loss, the shorter the recovery, the lower the claim costs and the lower the impact on WCB premiums […]

Understanding Risk Assessment and its Impact on Reducing WCB Premiums

Posted in: WCB Premium Reduction,Workplace,Workplace Wellness | Posted by Rebecca Ingram on August 28, 2023

What is Risk Assessment? Risk assessment is a vital process that helps businesses identify, evaluate, and manage potential hazards and risks within their operations. It involves a systematic examination of the workplace, tasks, and processes to determine potential sources of accidents or injuries to employees. By taking a proactive approach to safety, companies can create a safer work environment and improve employee well-being. In turn, these two factors alone, can help reduce the frequency and severity of work-related claims, ultimately resulting in lower Workers’ Compensation Board (WCB) premiums. How does the Risk Assessment process work? Identifying Hazards: The first step is to recognize potential hazards in the workplace, which may range from physical factors (such as slippery floors or faulty machinery) to environmental issues (like exposure to harmful substances). Assessing Risk: After identifying the hazards, the next step is to assess the level of risk associated with each hazard. This […]

Implementing an Effective Safety Program: A Smart Strategy to Reduce WCB Premiums

Posted in: Claims Costs,Safety,WCB Premium Reduction | Posted by Rebecca Ingram on July 31, 2023

Beginning with the basics and creating a solid foundation is key to ensuring a successful outcome and workplace safety is no exception. A well implemented health and safety management program (HSMP) lays the groundwork for how employees operate throughout their day and perform their job duties. Not only does it foster a positive work environment, but it can have a significant impact on the financial bottom line by reducing workers compensation claims and ultimately WCB premiums. Here’s how: First and foremost, an effective HSMP creates a proactive culture of safety within the organization. By establishing clear safety policies, procedures, and training programs, businesses can empower their employees to identify and mitigate workplace hazards. This proactive approach reduces the number of accidents, injuries, and illnesses, which results in fewer worker compensation claims. Fewer claims and less severe injuries will naturally lead to lower WCB premiums over time. Secondly, a strong HSMP […]

How to Lower WCB Premiums

Posted in: Claims Costs,WCB Premium Reduction | Posted by Rebecca Ingram on June 27, 2023

Workers’ Compensation Board (WCB) premiums in Alberta are determined based on various factors, including industry classification, past claim history, and total assessable payroll. The calculations can be complicated and complex with seemingly little that is within an employer’s control.  While many of the components and formulas used to determine premiums rates are fixed, there are some simple strategies employers that can have a positive impact.  The single most important thing an employer should focus on is claims. How to prevent them, how to manage them and how to stop them from happening again. Reducing claim costs has a direct impact on lowering WCB premiums and there are steps employers can take before, during or after a work-related incident that can improve the outlook significantly.  Over the next few months, we will be exploring these avenues in greater depth. In the meantime, here are 10 ways Alberta employers can reduce their […]

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