Company Saves $42,754 in Work Comp Premium
Our client is a property management firm headquartered in Minnesota. The company has been recognized for achieving the highest levels of performance within their industry. They specialize in property maintenance and management, and have numerous locations in multiple states.
Prior to engaging in a relationship with WA, the company had an unfavorable workers’ compensation loss history. During our trademarked Profit Shield™ Risk Assessment two large business risks were uncovered, one in the area of hiring and the other in the area of workers’ compensation claims.
It was discovered that the hiring of new employees was being done by the local property managers; and yet responsibility for a successful hiring process was with corporate managers in the home office. There was a disconnect between what was being done on the local level and the corporate goals and vision.
To ensure better communication and higher quality hires, corporate management was brought into hiring at the second and third stages of the process. They were able to add their input into each hire, thereby improving the quality of the employees introduced into the organization.
While analyzing the company’s hiring process, it was also discovered that they lacked a formal new hire training process, which resulted in numerous loss of time claims, primarily with the property maintenance personnel.
By implementing and executing an effective return-to-work-program, they were able to cut down on the loss-of-time claims which had caused a high experience modification number. They also instituted a formal training process for new hires. The training process was the responsibility of the local property manager, with accountability at the corporate level.
As a result of their relationship with WA, the experience modification for this company has been reduced by 40 points and the number of claims has gone from an average of 12 per year to zero. Through WA’s injury management system, work comp loss reserves have been reduced over a three year time frame by $250,504. Due to impacting the cost drivers of their work comp program, they’ve saved more than $42,754 in work comp premium.