Practical tips to enhance worker safety and control claims costs
Although safeguarding worker safety is an important organizational objective, workplace injuries are an unavoidable reality employers must face. After examining over 1.2 million workers’ compensation claims submitted between 2015 and 2019 to develop its 2023 Injury Impact Report, Travelers Companies, Inc. revealed that a staggering 18.6 million workdays were lost due to workplace injuries during that period. This significant loss underscores the magnitude of the problem and highlights the need for data-driven insights to help mitigate risks.
“As employers navigate turnover and a multigenerational workforce, it’s important that they stay aware of the risks that come with changing worker demographics so they can help keep employees safe and business running,” says Rich Ives, vice president of business insurance claim at Travelers.
Fortunately, by leveraging the report’s top three insights, we can develop more impactful strategies to help you better serve your clients and ultimately, reduce workplace injuries. Now, let’s explore what we can learn from the report:
1. New employees are at higher risk of workplace accidents.
According to the Travelers Injury Impact Report, 34% of workplace accidents occurred during an employee’s first year on the job, resulting in nearly 7 million missed workdays. This finding highlights the vulnerability of new hires as they navigate unfamiliar tasks and environments; it also stresses the importance of robust onboarding and training programs to ensure new employees understand and adhere to safety procedures. Here’s what you can take away from this insight:
- Comprehensive safety training and onboarding programs tailored to new employees are essential. To reduce the likelihood of accidents and promote a safer work environment, it’s crucial for employers to train new employees on safety protocols, proper use of equipment and other emergency procedures.
Related: How to reduce on-the-job injuries
2. Older workers incur higher claims costs than their younger counterparts.
The report also revealed that, although not nearly as prone to workplace accidents, employees over the age of 60 have claim costs 15% higher than those aged 35-49 and an astounding 140% higher than those aged 18-24. The disparity can likely be attributed to the longer recovery times associated with older workers and draws attention to the need for targeted safety interventions to help reduce injury risks for this demographic. Here’s what you can do with this insight:
- With an aging workforce, it’s crucial to implement age-specific risk management strategies. Employers should make ergonomic adjustments in the workplace, implement health and wellness programs and conduct regular health screenings to identify and mitigate risks for older workers.
3. The most common causes of workplace injuries are overexertion and slips, trips and falls.
According to the Travelers report, overexertion accounts for 29% of injuries, while slips, trips and falls contribute to 23%. This finding is corroborated by the Liberty Mutual Insurance Co. Insurer’s Workplace Safety Index, which estimated that overexertion and falls cost employers a combined $28.16 billion in 2021. These types of accidents not only drive up claims costs but also affect productivity by leading to substantial lost workdays. Based on this insight, here’s what we recommend:
- Addressing these common injuries with preventative safety measures can help mitigate risks and promote a safer environment. Advise your clients to conduct regular safety audits, train employees on proper lifting techniques and maintain a clutter-free environment to prevent slips, trips and falls.
Related: Minimize workplace slips, trips and falls with these tips
Leveraging the data for better risk management
As we’ve discovered, the Travelers Injury Impact Report offers valuable insights and strategies to reduce workplace injuries. By focusing on the vulnerabilities of new employees, the higher costs associated with older worker injuries and the most common causes of injuries, you can help your clients develop effective risk management strategies. Proactively engaging with clients using these data-driven findings will direct their focus toward the most effective strategies, thereby reducing workplace injury claims and improving overall business performance. Therefore, it’s important to review and improve your current safety practices to not only protect your workforce but to foster a healthier, more productive workplace.
References:
The Travelers Injury Impact Report | Travelers Insurance
Travelers Injury Impact Report Reveals the Employees Most Vulnerable to Workplace Accidents – ProgramBusiness
Lifting, falling represent nearly half of disabling workplace injuries: Report | Business Insurance
This article originally appeared on Arrowhead’s corporate blog. It has been used with permission and has been updated and modified to better fit the needs of our Preferred members.
