Work Comp Cost Per Employee Goes Up - Get the Texts You Need

"Manage Your Workers' Compensation Program 2011 – Reduce Costs 20% to 50%" is a 155-page guide covering how to assess your workers compensation program, design program materials, roll out a program to the organization, and monitor and manage the program once implemented. Written by a national expert on workers compensation cost containment with over 25 years experience in the industry. The book helps organizations reduce workers compensation costs.

In the RIMS 2008 Benchmarking Survey, Cost Per Employee for ALL employers in the survey went UP slightly from the previous year.

The overall Cost Per FTE in 2006 (the previous RIMS Survey) was $618. This went upward to $681, so not a huge increase, but when we hear there is a "soft market" that leaves me puzzled. Perhaps that's because the data is 2007, and the market wasn't so soft at that point. There are lots of possibilities…

BUT the biggest news is for companies on the low end of the range, those companies with less than $1 billion in revenue, the Cost Per Employee went UP, WAY up.

Now's a good time to buy your survey by clicking on this link. http://www.rims.org/resources/BenchmarkSurvey/Pages/PurchasetheBook.aspx. And, if they ask, make sure to let them know you saw our post. We're letting you know about the book, because it's the most valuable resource out there!

The survey has 14 industry groups, and you'll be able to find out what the WC Cost Per Employee is for YOUR industry. You should know if you are above industry average or below industry average, shouldn't you?

Author Robert Elliott, executive vice president, Amaxx Risks Solutions, Inc. has worked successfully for 20 years with many industries to reduce Workers Compensation costs, including airlines, healthcare, printing/publishing, pharmaceuticals, retail, hospitality and manufacturing. See www.LowerWC.com for more information. Contact: [email protected].

Our WC Book: http://corner.advisen.com/partners_wctoolkit_book.html

WORK COMP CALCULATOR: http://www.LowerWC.com/calculator.php

MODIFIED DUTY CALCULATOR: http://www.LowerWC.com/transitional-duty-cost-calculator.php

WC GROUP: http://www.linkedin.com/groups?homeNewMember=&gid=1922050/

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Do not use this information without independent verification. All state laws vary. You should consult with your insurance broker or agent about workers comp issues.