When your employees’ health suffers– be it physical health, financial health, or otherwise– your small business can suffer as a result. This is true across any company, in fact, but especially in small businesses where employers rely heavily on a close-knit team. There are many ways in which employers can foster a business environment in which employees feel comfortable and safe. We will discuss two of them in this post: financial safeguarding and insurance.
Across all 50 states and in the District of Columbia, employers are required to provide workers compensation insurance in case an employee falls ill or is injured as a result of a job, or if the employee is injured at work. You want to choose a good insurance provider so that you ensure that your employees receive adequate treatment in case of a work accident. A lack of payment from an insurance company can lead an employee to seek the aid of a workers compensation attorney in West Palm Beach FL or wherever your company is based. This litigation process can drain the involved parties of time, money and mental energy. It is best to evade this. Even when utilising the services of a top West Palm Beach FL workers compensation lawyer, an ounce of prevention is worth a pound of cure. To find a good workers’ compensation insurance provider, look for the following qualities:
- A stable reputation- An insurance provider with a positive, longstanding reputation is always a good place to start your search. Talk to other employers, and employees who have filed workers’ comp claims, and get their opinions on their insurance providers. View the company’s online reviews and talk to an insurance company representative before signing up for anything.
- Anti-fraud programs- while we certainly hope an employee will never falsely file for compensation, it is a possibility, one that could make filing injury claims more difficult for other employees in the future. A good insurance company will conduct through investigations, which could save thousands of dollars in the long term.
- Efficient, fair claim handling- the faster your employee receives just compensation, the faster your business can move forward. It is best to work with an insurance provider who will limit the number of points of contacts you have, so you may communicate with your provider efficiently.
- Competitive pricing- You would be wise to protect your company’s financial resources– but do so without cutting corners and sacrificing your employees’ health!
The previous point brings us to another way in which you can protect your company; small business owners need to protect their company’s financial health, without which employees can suffer from mental anguish. This in turn affects their physical health. It is important to work closely with a business accountant, who can help your company thrive as your business grows. Additionally, scheduling an audit with a top tier corporate auditor for your business, will help you maintain accurate records of your business and protect your company from accusations of white-collar crime.
Whatever business you own, you have a duty to protect your employees. When your employees feel safe at work, they perform better. Think of the company as a body and your employees as the heart. The health of one surely depends on the other.