Making the right hiring decisions is critical to your business success, but getting it right can be tough. And you know the negative consequences of making the wrong hire. It can lower employee morale, slow productivity, impact customer relations, and potentially cost you in theft, fraud, workers’ compensation claims, or lawsuits. On top of that, replacing an experienced worker who doesn’t work out can cost you 50 percent or more of that worker’s salary, and those costs only go up if the worker has specialized skills (Source: AARP).
When you consider the high cost of New York workers’ compensation claims, it’s clear you can’t afford to make careless missteps. And yet one of the most common and costly mistakes employers make in the workers’ compensation process is simply failing to communicate. In fact, employer silence is at the root of many workers’ comp disputes. When an employer drops the ball on communication, it’s almost inevitable that misunderstandings, delays, and added costs will be the result.
Tags: new york business insurance, New York workers’ compensation, New York workers’ compensation claims, new york workers’ compensation costs, new york workers’ compensation claim, workers’ compensation program
As an employer, you know that costs can skyrocket when disputes arise and attorneys get involved in your New York workers’ compensation claims. Litigation can easily become a part of almost any claim and quickly start draining resources. Some New York workers’ compensation claims are naturally more complex, but when litigation is involved, even the simplest claims can become complex. Months, and sometimes even years, of legal wrangling skyrocket claims expenses and increase your workers’ compensation premiums for years to come.