During times of a weaker economy, companies need to be extra vigilant about fraud. The temptation not only increases, but the company's ability to deal with the results weakens, notes Arthur J. Gallagher Risk Management Services, Inc. Podcast about REDUCING FRAUD.
Four things to teach your workforce about fraud:
1. Define your company policy on theft and fraud.
2. If you do not have a company policy on fraud and theft, write one.
3. Explain your state's fraud laws.
4. Tell your employees what the consequences of internal fraud are in dollar terms – how does X amount of fraud dollars affect the company 401(k) program or the health benefits.
5. Explain the time and financial costs of legal action against a fraudulent employee.
Two Ways to Build a safety incentive program to prevent fraud:
6. Incentivize employees for not having injuries.
7. A holistic approach is best – bring in the resources you have available. Insurance investigations, state attorneys, counselors, claims professionals, medical professionals, safety professionals, nurse case managers and loyal employees.
Fourteen Fraud and Theft Deterrents:
8. Education.
9. Have consequences for committing fraud.
10. Motivate reporting fraud by offering private reporting methods such as 800 tip numbers.
11. Use guest speakers such as the local police officers, claims adjustors and private investigators.
12. Let employees know they are part of the fraud prevention program.
13. Management and clients should walk the floors once a month or once per quarter to build rapport and let the workforce know there are informed people who can handle fraud.
14. Hang posters discouraging fraud or posters on how to report fraud.
15. Hold safety meetings that discuss fraud.
16. Display suggestion boxes.
17. Hire trusted management whom employees feel they can talk to.
18. Document the work area before plant closings or layoffs, note what is present and also what it not present, such as grease on the floor.
19. Run an anti-fraud campaign before layoffs or closings. Let employees know this is not personal, it is financial. Make interactions "human" and deal with employees as individuals.
20. Include information in the form of fliers, pamphlets or newsletters on reporting fraud or the consequences of fraud with employee paychecks. (workersxzcompxzkit)
21. Inform insurance carriers and ask for assistance before a plant closing. Bring in safety employees and nurse case managers to document what the employees are or aren't doing.
"FRAUD PREVENTION" PODCAST click here: http://www.workerscompkit.com/gallagher/mp3
By: Private investigator with 25 years experience.
WC Books: http://www.reduceyourworkerscomp.com/workers-comp-books-manuals.php
TD Calculator: www.ReduceYourWorkersComp.com/transitional-duty-cost-calculator.php
WC Calculator: http://www.reduceyourworkerscomp.com/calculator.php
Do not use this information without independent verification. All state laws vary. You should consult with your insurance broker or agent about workers' compensation insurance issues.
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