So I have a question for you. How many employees do you have out of work right now? How many employees do you have out of work right now?
A Simple Answer You Should Know
Hello, my name is Michael sack and I’m a CEO of AMAX and it seems like that might be a simple question, but I will tell you that most likely you don’t know the answer off the top of your head. And I will also tell you that you should, you should know that answer because if our goal and worker’s compensation is to bring our employees back to work, how can we get them back? If we don’t know how many are out? How could we get them back? If we don’t know how many employees are out of work? Very simple question, very simple answer to look up, but you shouldn’t have to look that number up. That number should be right at the top of your head.
Again, if your main goal as an employer or as a service product provider, that’s working with employers to achieve our main desire and worker’s compensation to get our employees back to work and back to function. We need to know how many employees are out of work right now. How many employees out of work right now, very simple metric. But again, that number should be top of mine. And this is true.
This post is one of the series on Metrics to Master Worker’s Compensation:
- How to Calculate Cost Per FTE Metric to Show Workers’ Comp As Profit Center
- The Single Most Comprehensive Workers’ Comp Leading Indicator
Know The Information To Develop A Plan
Also, if you’re looking at this in the grander context of returning employees back to work from something like the COVID-19 pandemic, maybe you have employees that are out of work, or they’ve been working from home and you’re now transitioning and trying to bring them back. But the point is, if you don’t know how many are out, then you don’t have a plan to get them back. And that’s true and very various contexts, as we’re thinking about COVID-19, as we’re thinking about workers’ compensation, once you know this number, whatever this number may be, then you can develop a plan to get them back to work again, very simple metric, but it’s a number that you need to know. Again, my name is Michael stack and the CEO of AMAX. And remember your work today, workers’ compensation can have a dramatic impact on the company’s bottom line, but it will have a dramatic impact on someone’s life. So be great.
Author Michael Stack, CEO Amaxx LLC. He is an expert in workers’ compensation cost containment systems and helps employers reduce their workers’ comp costs by 20% to 50%. He works as a consultant to large and mid-market clients, is a co-author of Your Ultimate Guide To Mastering Workers Comp Costs, a comprehensive step-by-step manual of cost containment strategies based on hands-on field experience, and is the founder & lead trainer of Amaxx Workers’ Comp Training Center , which offers the Certified Master of Workers’ Compensation national designation.
Workers’ Comp Roundup Blog: http://blog.reduceyourworkerscomp.com/
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