4 ways “soft skills” can save you money

So-called soft skills can save you hard dollars when it comes to workers’ compensation insurance. Soft skills describe communication and interpersonal skills that help to build relationships with others, and they offer surprising benefits when it comes to lowering your insurance costs.

The top five things you can do to flex “soft” skills with an eye to lowering your insurance costs include:

  1. Create an atmosphere of trust with employees: Working to create positive relationships with employees sets the stage for open lines of communication following an accident. Open lines of communication keeps everyone on the same page and makes for a smooth transition between medical treatment and return to work. Another benefit of consistent communication? Injured employees who feel connected to you and the workplace will be less likely to seek out expensive legal help with their claim.
  2. Communicate regularly with injured employees: Following an injury, employees may feel anxious about the claims process or about retaining their job. Consistent and positive feedback can help allay those anxieties, and prevent the employee from seeking legal help. Keeping in touch also allows for coordination of a plan to return to work. Returning to work, even on light or modified duty improves morale and can reduce unnecessary medical expenses, which can reduce your costs over the long haul.
  3. Sniff out fraud: Fraudulent claims are typically the exception and not the rule, but even one fraudulent claim can affect your insurance costs for several years. You’re more likely to spot signs of fraud if you are communicating consistently with your employees. Red flags of fraudulent claims include those filed by employees who are disgruntled, consistently uncooperative, have a history of short-term employment or who have a history of reporting subjective injuries. Additional indicators of potential fraud can be found here
  4. Achieve consistent buy-in on safety programs: An ounce of prevention is worth a pound of cure, as the saying goes, and perhaps nowhere is this truer than with insurance costs. Communicating a commitment to a safe work environment by modeling the behaviors you wish your employees to follow and coordinating regular training sessions can help reduce risk, which can help lower your insurance costs. And, by communicating that safety is a top priority for management, you provide an incentive for employees to brainstorm process or equipment improvements that can help further reduce the risk of an injury.

Questions about how you can reduce your insurance costs? We can help. Call us at 866.919.9578 to find out how you can start saving today.