Workers compensation is insurance designed to protect you and your employees in the case that injury occurs on the job and it is mandatory in most cases. It protects workers and their families by providing for:
- Health care costs incurred due to the injury
- Lost wages from missing work due to the injury
- Benefits for surviving family members in the case of workplace death,
among other things. The exact benefits and formulas vary from state to state.
Clearly, there are many ways that workers comp can protect your employees, but how does it protect you and your business?
It Helps You Avoid Messy Legal Battles
Without workers compensation, any injured employee would be able to sue you for the tort of negligence. Long, drawn-out legal battles are very costly and many small to mid-size businesses would buckle under the strain of a lawsuit. Ultimately, even if you were not legally liable, you could still end up losing your business. This avenue benefits no one and it's one of the primary reasons workers comp was instituted. The cost of providing your employees with workers comp is ultimately a drop in the bucket when compared to multi-year long court cases.
It Improves Employer-Employee Relations
Injuries are generally covered on a "no-fault basis" removing the idea of blame from the equation. Injured employees can file for workers comp and receive the benefits without you as the employer admitting to any liability. You and your employees can avoid getting caught up in placing the blame and instead move on from the incident in a positive, constructive way. Everyone comes out ahead in this scenario.
It Boosts Employee Morale
Imagine being an employee and watching one of your colleagues become injured on the job, only to be left hung out to dry. That's not the kind of environment anyone wants to work in. Workers compensation shows your employees you value them and don't just see them as disposable tools. When your employees don't have to actively worry about what will happen to them or their family in the case of a serious workplace injury they will be more productive and more engaged.
Ultimately, workers compensation is a reliable and non-adversarial way to protect your business and your employees when disaster strikes.
At Summerlin-Roberts we know how valuable your employees are to you. We will work side-by-side with you to implement a workers compensation policy that satisfies your employees and protects your business from liability. Contact us today to learn more about workers comp and how we can help you manage risk and liability.