When workers’ compensation expenses begin to rise, it often prompts employers to look for immediate ways to cut insurance costs. But the real solution goes beyond simply reacting to claims. A proactive approach that prioritizes safety and continuous improvement is the key to long-term savings. With the right strategy, businesses can reduce injuries, improve compliance, and lower workers’ compensation premiums.
Tooher-Ferraris Insurance Group works closely with employers to design safety programs that not only meet regulatory standards but also enhance workplace culture and productivity.
Here are five essential strategies to help control and reduce workers’ compensation costs:
1. Build a Strong OSHA-Compliant Safety Program
A solid foundation begins with complying with OSHA standards. Many workplace accidents result from overlooked requirements—slippery floors, missing personal protective equipment, or improper lifting techniques.
By developing and documenting required OSHA programs, then clearly communicating them to employees, businesses can significantly lower the risk of incidents. Companies with well-documented and enforced safety protocols tend to experience fewer injuries, higher productivity, and reduced insurance costs.
2. Integrate Safety into Daily Operations
A written policy alone will not deliver results. To make an impact, safety must become part of everyday operations. This requires a deliberate effort to involve all levels of the organization, especially frontline supervisors.
Supervisors are critical to the success of any safety initiative. When they are trained and equipped to lead safety programs, the organization benefits from consistent execution and accountability. The most effective programs are led by supervisors who understand safety expectations and actively engage their teams.
Tooher-Ferraris Insurance Group offers tools and resources to support safety training and help build a culture where best practices are reinforced every day.
3. Investigate Every Injury and Illness
Each workers’ compensation claim increases your insurance costs. The best way to reduce claims is to prevent accidents from happening in the first place. That starts with thorough investigations, not just reports.
Accident reports document what happened. Investigations uncover why it happened. By identifying the root cause, businesses can implement meaningful corrective actions that prevent future incidents. This applies to all accidents, even those involving minor first aid.
For every 100 workplace accidents, statistics show only 10 are recordable and one involves lost time. Ignoring minor incidents leaves most issues unaddressed. A strong safety culture investigates every incident to identify patterns and make necessary improvements.
4. Train Employees and Supervisors for Competence
Effective training is essential to safety and cost control. Employees must understand their responsibilities and how to perform tasks safely. Supervisors must be competent in integrating safety procedures into their departments.
Training should be practical, role-specific, and reinforced regularly. A workforce that is well-informed and confident in safe work practices is less likely to experience accidents and more likely to contribute to a high-performing organization.
5. Audit Regularly and Commit to Continuous Improvement
Even the best safety programs can become outdated if not reviewed. Regular audits help identify gaps, reinforce accountability, and ensure continued compliance with OSHA standards.
A competency-based safety program encourages employee engagement, improves morale, and supports retention. When employees feel safe and valued, they are more productive and loyal. Companies that continually evaluate and refine their programs often experience fewer accidents and stronger bottom-line results.
The Tooher-Ferraris Advantage
Tooher-Ferraris Insurance Group partners with businesses to develop and maintain effective safety programs that align with operational goals. Our solutions include OSHA compliance support, training resources, and tools for incident investigation and auditing. We help you uncover risks before they lead to costly claims.
If you’re looking to reduce your workers’ compensation costs and create a safer workplace, contact us today. Let us show you how a focused and proactive approach to safety can protect your employees and your bottom line.
