FrankCrum’s Executive Vice President and FrankCrum Staffing President, Haley Crum Blanton, shared her thoughts with Franchising USA on how restaurant franchise owners can minimize employee risk and injury and save money.
Below is an excerpt of the article:
One area that keeps many restaurant franchisees awake at night is on-the-job injuries and their attendant expense. In addition to the injury to the employee, there’s the specter of lost productivity and increased workers’ compensation rates, among other costs.
Increased workers’ comp rates are a valid concern, but there’s more to an effective risk management program than an insurance policy. An integrated program of affordable workers’ compensation insurance and an ongoing risk management program will stabilize, and perhaps even lower rates and protect workers.
Workplace Safety and Risk Management
The stakes are high, both in terms of worker safety and cost to employers. The national Occupational Safety and Health Administration (OSHA) says: “It has been estimated that employers pay almost $1 billion per week for direct workers' compensation costs alone. The costs of workplace injuries and illnesses include direct and indirect costs. Direct costs include workers' compensation payments, medical expenses and costs for legal services. Examples of indirect costs include training replacement employees, accident investigation and implementation of corrective measures, lost productivity, repairs of damaged equipment and property, and costs associated with lower employee morale and absenteeism.”
Read the whole article here: Minimizing Employee Risk and Injury: Accomplishing It and Saving Money