Suggestions to Reduce Worker’s Compensation Claims
Companies must make hard decisions daily to ensure their business is thriving. At times, that may include reducing payroll by laying off employees. While it may seem like a good solution, it can cost more in the end with the added stress and strain on your remaining staff. Even if your business is growing but your departments are not adequately staffed, your team will quickly reach burnout, and everyone’s hard work will be for nothing.
Stress management is vital for each person’s health. Additionally, when overworked, accidents happen and sometimes result in injuries. Gain peace of mind that your workers’ compensation insurance policy can handle the level of risks your employees are going through. Talk with a broker from the Business Insurance Center who will tailor a plan that protects you, your company, and your team.
3 Risks of an Understaffed Business
Make better staffing decisions by understanding the risks your business faces when it operates understaffed.
- Your team is likely to have more injuries and illnesses. When there are fewer hands to do the same amount of work, the result may be a team that cuts corners and fails to adhere to safety protocols. This is when accidents are more likely to happen. Don’t forget that the additional stress will affect your staff’s overall health.
- Your company may miss deadlines. If your projects are time-sensitive, you may find that deadlines are missed more frequently. Your 98% on-time delivery rate may drop, affecting your reputation, causing customers to leave. Finding new customers is much more labor-intensive and expensive than keeping existing ones.
- Your employee turnover rate could skyrocket. With deadlines being missed and everyone feeling the strain, you may find that your employees start dropping off. The high-stress atmosphere will be hard to handle. Replacing staff will affect your business’s productivity as you will have to find qualified candidates and get them trained.
Suggestions to Mitigate the Stress of an Understaffed Workplace
You can mitigate some of the stress your staff faces while you are in the process of hiring a new team member.
- Share stress-management strategies: Encourage your staff to take care of their health by eating well, getting rest, and taking breaks. Remind them to take time to enjoy some leisure activities to reduce stress.
- Keep the lines of communication open: Be open about the hiring process and what the company’s situation is like when you plan to hire new members for your team. Remember to talk with your clients ahead of time to let them know when you will not be able to make deadlines.
Protect Your Company and Your Employees with Help from a Dependable Brokerage
You greatest asset clocks out at the end of each shift. Help ease their stress by keeping the lines of communication open while working to increase your staff. The dependable brokers at the Business Insurance Center are ready to help by reviewing your current coverages, including workers compensation and ensuring you have everything to you need to keep growing as an enterprise.
Request a quote online or call and speak with a knowledgeable and experienced broker at the Business Insurance Center. We have a 24/7 call center to serve you and an online Live Chat operator.