Skip to main content

Workers Compensation Audit


 Workers' compensation insurance is a useful tool in managing workplace injuries and maximizing employee output.

Workplace accidents and illnesses can happen at any time, even if employees are telecommuting. As workers' compensation claims rise and productivity falls, it can have a devastating effect on a company's bottom line.


To wit, in the year 2020:


Employers in the private sector reported about 2. 7 million cases of work-related illness or injury.

The number of incidents when time was lost from work was above 888,000.

U.S. Bureau of Labor Statistics, "Employer-Reported Workplace Injury and Sickness," 2020


https://www.bls.gov/news.release/pdf/osh.pdf

Comments

Post a Comment

Popular posts from this blog

 Headline: One Overlooked Metric That Could Transform Your Company’s Value You know gross margin impacts your profit, but have you considered the impact it has on the value of  your company? When assessing your company’s value, acquirers and investors will often scrutinize your gross profit  margin. Gross profit margin is the difference between a company’s revenue and its cost of goods sold. In  other words, it’s the profit a company makes from each unit of product or service sold after accounting  for the cost of producing or delivering that unit but does not include other fixed expenses. For example,  if a company sells a product for $100 and it costs $70 to produce and deliver it, the gross profit margin  would be $30, or 30%. A high gross profit margin is a crucial factor for investors and potential acquirers as it indicates that a  company has established pricing power through marketing differentiation and possesses a competitive  advant...
Post a Comment
Read more

Simplify Your Hiring Process with Liberty Payroll Solutions'

Are you a small business owner who finds it hard to find and hire new people? Are you swamped by the piles of resumes, interviews, and other parts of the hiring process? Stop looking! The PXT System from Wiley is what you need, and Liberty Payroll Solutions has it. Small businesses can find it hard and time-consuming to hire new workers. From sorting through a lot of papers to setting up interviews and keeping track of paperwork, it can quickly become a lot to handle, taking time and resources away from your business's main tasks. This is where the PXT System from Wiley from Liberty Payroll Solutions comes in. It will make your hiring process easier and help you make better hiring choices. The PXT System from Wiley is a strong online tool that speeds up the hiring process by giving you tests and insights to figure out if a job candidate is a good fit for a certain role in your company. With its advanced features and easy-to-use interface, the PXT System makes it easy to handle the ...
Post a Comment
Read more

What is EBITA? Should I care if I am a small business owner?

 Understanding EBITA is a key measure of a small business's financial health. As the owner of a small business, it's important to know the key financial measures that can help you figure out how healthy and profitable your business is. EBITA, which stands for Earnings Before Interest, Taxes, and Amortization, is one of these metrics that is often used. This article will explain what EBITA is, how it is calculated, and why small businesses with fewer than 50 employees should care about it. What does EBITA mean? EBITA is a measure of a company's operating success and profitability. It looks at the company's ability to make money from its operations, minus the costs of interest, taxes, and amortization. People also call it "operating income" or "operating earnings." EBITA gives information about how well a business is doing financially by showing how much money it makes from its core operations, without taking into account funding costs, taxes, and non-...
Post a Comment
Read more