Risk Management Services for Employers
Many business owners struggle to stay ahead of the risks associated with workers’ compensation and workplace hazards. While there are several ways to protect businesses against these dangers, you didn’t start your business to become a risk analyst. That’s why many employers rely on a risk management service from professional employer organizations (PEOs) like GMS.
Prevent Workplace Injuries Before They Happen
U.S. employers are responsible for dealing with the consequences of workplace injuries. According to OSHA, millions of workers suffer serious job-related injuries or illnesses every year. In addition to the resulting downtime and lost productivity, these incidents result in workers’ compensation claims for employers, increasing their insurance rates.
The good news for business owners is that many work-related deaths, injuries, illnesses, and consequential workers’ compensation costs are preventable. With the right risk management service, your business can identify these hazards and risks. These proactive measures help you create a safer work environment for your employees, resulting in fewer claims and a lower workers’ compensation insurance rate.
The Hidden Cost of Workplace Incidents
Identifying risks and making changes to improve the health and safety of your workforce pays off.
According to the U.S. Bureau of Labor Statistics:
- Employers spent an average of $0.46 per hour worked on workers’ compensation
- For a small business, workers’ compensation costs can vary from hundreds to thousands of dollars a year per employee
There are numerous benefits to risk management, but some businesses face challenges when trying to implement safety programs and other strategies. Time, communication, and a lack of understanding all pose problems for managing risk. Read more about workplace injuries & safety programs by the numbers.
Why Businesses Outsource Risk Management Services
Employers don’t need to settle for high compensation costs and OSHA-related issues. At GMS, we partner with businesses of all sizes to simplify their administrative needs, foster a culture of workplace safety, and help them save money.
When you turn to GMS for risk management services, you gain a proactive partner dedicated to addressing immediate issues and preventing future problems. Through our outsourced safety management approach, our experienced professionals help businesses reduce workplace risks, improve OSHA compliance, and control workers’ compensation costs. From cost containment to loss prevention, our risk management professionals can do it all.
Workplace Safety Strategies
The fewer claims you file, the lower your rate will be. GMS helps businesses take a proactive approach to workplace safety to reduce risks and make it less likely that employees get hurt or sick while on the job. We work closely with your business to create a comprehensive risk management plan to keep your employees safe and your workers’ compensation rate down. Our workplace risk management services include:
Onsite risk management consulting
Creation of workplace safety documentation and frameworks
Jobsite inspections
Job hazard analysis (JHA)
Development of standard operating procedures (SOP)
On-site and online training services
OSHA inspection assistance
Managing Workers’ Compensation Claims
Prevention is one of the best tools businesses have for lowering their workers’ compensation rates. In addition to improving workplace safety, GMS employs several strategies to reduce both the number and severity of workers’ compensation claims over time, including developing safety manuals, implementing drug-testing programs, and putting other loss-prevention measures in place.
Even with all of these extensive measures designed to create a safe working environment, accidents still happen. Our risk management services continue after an incident occurs, helping businesses effectively manage workers’ compensation claims while supporting employees throughout the recovery process.
GMS handles workers’ compensation management to contain costs after a claim is filed. Our dedicated team of claims investigators and nurse case managers will oversee the claims management process. We work closely with carriers to ensure your employees receive the proper care at the correct cost and return to work as soon as possible. Through our claims management services, our experts will help you maintain good records and minimize your exposure to a lower experience modification number.
Frequently Asked Questions (FAQs)
What are risk management services?
Risk management services help businesses identify, assess, and reduce workplace hazards that can lead to employee injuries, OSHA violations, and costly workers’ compensation claims. Services often include workplace safety consulting, jobsite inspections, employee training, claims management, and compliance support.
How do companies reduce workplace risk?
Companies reduce workplace risk by implementing safety programs, conducting regular workplace inspections, providing employee training, developing standard operating procedures, and identifying hazards through ongoing risk assessments. Partnering with experienced risk management professionals can help strengthen these efforts.
What services are included in a risk management program?
A comprehensive risk management program may include onsite risk management consulting, workplace safety documentation, jobsite inspections, Job Hazard Analyses (JHAs), Standard Operating Procedure (SOP) development, employee safety training, OSHA inspection assistance, and workers’ compensation claims management.
What is outsourced safety management?
Outsourced safety management allows businesses to partner with experienced safety professionals instead of managing workplace safety entirely in-house. This approach provides ongoing guidance, workplace safety training, compliance support, and risk assessments without the need to hire additional internal staff.
How does a PEO help with workplace risk management?
A PEO like GMS provides access to experienced risk management professionals who help businesses strengthen workplace safety, improve OSHA compliance, implement safety programs, manage workers’ compensation claims, and reduce overall workplace risk. This allows employers to focus on running their business while receiving ongoing safety and compliance support.
Does a PEO help with OSHA compliance?
Yes. Many PEOs, including GMS, help businesses navigate OSHA requirements by providing workplace safety guidance, jobsite inspections, employee training, safety documentation, and assistance during OSHA inspections. These services help employers build safer workplaces while supporting ongoing compliance efforts.
How often should businesses review their workplace safety programs?
Workplace safety programs should be reviewed annually and updated whenever there are changes to equipment, processes, regulations, or job responsibilities. Periodic reviews help ensure safety procedures remain effective, address new workplace hazards, and support ongoing compliance with OSHA requirements.
Embrace Risk Management in the Workplace
There are numerous benefits to proactive risk management, but a lack of time and understanding can make it difficult for businesses to execute. Risk management services from GMS allow employers to outsource those headaches. Contact us today to learn how we can help you minimize business risks and costs.
