A recent survey of over 500 small business owners found that workplace safety was on the top of owner’s minds and ranked as the greatest business risk they faced. 35 percent of respondents indicated that they were more concerned about workplace safety over any other business risk.
That survey, in and of its self is interesting, but it isn’t that surprising. Most business owners know that each workplace accident carries with it both direct costs and indirect costs. Direct costs are mostly paid for by their insurers through workers compensation or general liability (if a visitor/non-employee is injured), but indirect costs such as lost productivity, waste, overtime, training costs, compliance costs, damage to brand or reputation, and loss of customers can have a huge impact on the bottom line.
While many business owners may recognize this as a problem they are often stymied by how to stop workplace accidents from happening, and where to find answers to these problems. In the past, insurance companies had huge loss control departments with tons of resources to call on for advice. Unfortunately most of those departments don’t exist any longer and the services that do exist are not deep enough, nor focused enough to make a difference. Businesses can go to outside vendors and buy books and videos, but they usually recognize that those resources do little good to create impactful change or substantial controls.
This is where The Coyle Group can come in to lend deep domain expertise, resources, and advice on how to establish a workable and deploy-able risk control system in your company.
It starts with a conversation to understand and listen to the issues and challenges you face. We then will ask for accident reports, and loss history reports from your insurers. From there we’ll develop and propose an action plan totally tailored to your business and your situation. We will help “carry the ball” down the field with you to make sure you’re getting the right results.
What does it cost?
That’s a good question. The answer is usually nothing. That’s because we want to engage with our clients and bring them the best practices of risk management available, we bundle these services as part of our entire risk management strategy when we are your insurance broker. So, rather than just buying insurance from any broker, why not gain the valuable resources, tools and expertise you need to help control what most business owners are considering their greatest challenge > Workplace safety and protecting employees.
For more information on how we can help your business, please contact us in New York for a no obligation conversation by calling 845-634-3606 or by filling in the contact box on this page.
For additional information cited in this survey, see this link: