So Long 2022! What’s in Store for 2023?

For many it’s good-bye and good riddance with the promise of a better year to come. For others, especially employers, this will continue to be unprecedented times as the world, and the economy, finds its new equilibrium.

Rising inflation, interest rates and production costs combined with managing a workforce, whether it is new hires, returning workers, remote working, hybrid work setups or health and safety modifications, the challenges facing employers are significant. So as we head into 2023, here are three major things to consider: 

1. WCB Premiums. Workers compensation boards across the county have recently issued their premium rate statements. The impact that the pandemic has had on operations over the past couple of years could affect how a business should be classified. A careful review of your premium calculations could uncover hidden savings Not sure what to look for, here are 10 things to check on your premium rate statement.
2. Health & Safety Management Programs. There has been a huge shake up in the workforce recently with an unprecedented number of retirements, resignations and alternate working arrangements. Many organizations are looking at hiring new staff and/or having existing employees return to the workplace, that is why safety training, or retraining, is of utmost importance. How’s your health and safety management program?
3. Remote Working Policy. For many organizations, the pandemic has changed the definition of the workplace. Figuring out how to work from home or how to work remotely was a necessity that has morphed into a more permanent reality. Although face to face interactions, water cooler and coffee break discussions and team building opportunities are invaluable, the flexibility and financial benefits of working from home can not be ignored, especially as we head into the height of the cold and flu season. Implementing a detailed policy clearly outlining guidelines, requirements and expectations can help make sure the arrangement works for everyone.

Managing WCB premiums, mitigating WCB claims and making sure workplace policies are relevant and current are just a few of the ways employers can try to contain or reduce operating costs. Of course, every business is unique and must address their own issues as well, but this is a good start.

As always, we are here to answer your questions or address your concerns to the best of our ability. You can use our live chat feature during business hours, email us at [email protected] or at [email protected], contact us directly at 1-844-377-9545 or you can always connect with us on our Facebook page, through our Twitter account, on our LinkedIn profile.

As we bid farewell to 2022, the BCL family wishes you and yours a safe, healthy and happy holiday season, however you celebrate this year!