What is a Worst-to-Best List?
When assessing your workers’ compensation program using benchmarks is very effective, but it is better if you rank business units from Best-to-Worst. Rankings let you allocate resources appropriately and provides a corporate-wide overview. When calculating the Cost Per Employee, Lost Work Day Totals or other workers’ compensation metrics, make sure to analyze the data BY division, BY operating unit, BY location, etc. to see which operations have the best and worst track record.
For example, when an operation in one city, Los Angeles for example, looks highest, the operation in another city may actually BE the highest when analyzed by manhour, by mile, etc. Then post this data to management from Worst to Best — this is a huge incentive for those on the top of the list to get on board and implement the type of programs cost containment experts have been recommending.
Here’s an example of the Best-to-Worst List from Workers’ Comp Kit® which can be presented as either Best-to-Worst or Worst-to-Best.
Try the WC Cost Calculator to show the REAL COST of work comp.
Look at WC 101 for the basics about workers comp.
Workers’ Comp Kit® is a web-based online Assessment, Benchmarking and Cost Containment system for employers. It provides all the materials needed to reduce your costs significantly in 85% less time than if you designed a program from scratch.
Do not use this information without independent verification. All state laws are different. Consult with your corporate legal counsel before implementing any cost containment programs.
©2008 Amaxx Risk Solutions, Inc. All rights reserved under International Copyright Law. If you would like permission to reprint this material, contact I[email protected]