Question from a LinkedIn follower:
(Q) Based on the information provided in my WCB report card, it seems that our company has a higher-than-average injury rate compared to other companies in our industry. How can we use the report card to lower our high premiums?
(A) The report card is an under-used resource that can be accessed through a company’s myWCB portal. It provides valuable insights into workplace health and safety practices, including claim history, injury rates, and return-to-work outcomes. By monitoring your report card, you can identify trends, spot areas of concern, and take steps to improve your health and safety practices.
One of the primary reasons why employers should monitor their WCB report card is to identify trends. Regularly reviewing your report card can help you identify patterns in your workplace health and safety practices. For example, if you notice that you have a higher-than-average injury rate for a particular job or department, you can investigate why this is the case and make changes to reduce the risk of injury. Additionally, by identifying trends early on, you can implement corrective actions before they become more severe issues.
Spot Areas of Concern
Another benefit of monitoring your WCB report card is that you can spot areas of concern. For example, if you notice a high number of workplace injuries related to ergonomics, you may need to implement training programs to educate your employees on proper lifting techniques or invest in ergonomic equipment. Similarly, if you notice a trend of employees reporting stress-related injuries, you may need to review your work schedules and workload to ensure that your employees are not overworked or overstressed.
Improve Workplace Health and Safety Practices
By identifying trends and areas of concern, you can take steps to improve your health and safety practices. For example, if you notice a high number of injuries related to slips, trips, and falls, you may need to invest in slip-resistant flooring or improve your housekeeping practices. Additionally, by monitoring your report card, you can track the effectiveness of your corrective actions and make adjustments as necessary.
Reducing the Cost of Workers’ Compensation Coverage
A WCB report card is a powerful tool for reducing the cost of workers’ compensation coverage. Workplace injuries lead to claims costs, which then lead to higher premiums. By analyzing KPIs and other metrics, employers can make data-driven decisions that are based on actual performance data rather than assumptions. This approach often leads to more effective decision-making, improved efficiency, and increased profitability. By taking steps to reduce the risk of workplace injuries and illnesses, employers can create a safer and more productive workplace while also reducing the cost of their workers’ compensation coverage.