The past year has been a serious struggle for many business owners, and many who have managed to stay in business are confused and seeking help from agents about their insurance options. Many businesses are looking to reduce costs and recover some of the losses they have experienced. In addition, some businesses have had to let go of some of their employees, or have had to change the roles of their workers, which could put those employees at greater risk of injury. Business owners will turn to agents like you for help evaluating their worker’s compensation needs, and will also be looking to save money, so be prepared with your strategy for how to help them.
How much an employer pays their employees plays a crucial part in determining worker’s compensation premiums. This also means that the number of employees a business has determines how much they will pay in premiums. The less employees they have (possibly due to layoffs), the less they will have to pay. You can help your customers save money on their premiums by going over their payroll changes with them.
Ensure Employees Are Correctly Classified
During the pandemic, some businesses were forced to lay off workers, or needed to change some employees’ positions – and classifications – due to being short-staffed, or both. These changes will affect how these workers are covered for the new risks they can face. When an employees’ classification is changed, the cost of your customers’ premiums could change, as well. Incorrectly classifying employees, or forgetting to change their classifications, is an easy mistake for business owners to make. Make sure to discuss this with them in order to make sure employees are correctly classified, so you can possibly save them money.
Know What To Do When Employees Get Hurt
In the event that one of their employees is injured, your client might come to you for help. Knowing the process will make it easier for your clients. Let them know the steps: first, they should always direct their employee to get checked out when they are injured. Next, your client needs to investigate the accident and take any statements. Finally, they can file a worker’s compensation claim with the insurance company.
Be The Middleman
Sometimes a business owner will come to you to play the middleman between them and the insurance company. It is your job to point them in the best possible direction and, because you work directly with the insurance company, you can serve as the intermediary between them.
Help Build A “Recovery-At-Work” Plan
If your customer’s employee gets hurt, getting them back to work can be a long process. When the employee is able to return to “light duty,” they will have some restrictions. You can help your client come up with a great return-to-work plan to show employees that they can still be productive and be part of the team, when they are ready. You can help your customer identify work activities that their employee can engage in based on their doctor’s restrictions.
The best way to help your client and keep them happy is by explaining employee classifications, how to deal with payroll changes, and what to do when an employee gets hurt. You can help them save money by going over their options, pointing them in the direction of their best option, and providing the best customer service you can.