Risk & Compliance
A workplace injury is an employer’s worst fear, yet most injuries, illnesses, and fatalities are preventable with proper training and safety procedures in place.
Employees are the core of your business operations — without them, your business cannot function. As an example, your Safety protocols should be the first line of defense for a safe workplace environment and, to succeed, you must regularly train employees on the appropriate policies and procedures to mitigate risk.
Investing in industry risk and compliance experts will help proactively mitigate risks through adequate training, identifying vulnerabilities, and ensuring compliance with local, state, and federal workplace safety laws and regulations.
Workers’ compensation insurance helps protect businesses and their employees from financial loss when an employee is hurt on the job or gets sick due to a work-related cause. To improve compliance and safety training, you need an accountability partner who can see beyond the blind spots to the solution.
Many businesses have policies and procedures in place to protect their employees from workplace accidents, but they don’t prioritize risk management and compliance. While workplace fatalities in the United States have dropped nearly 60% over the past two decades, there are still approximately 2.8 million nonfatal workplace accidents and injuries in the private industry each year. A workplace injury or illness can result in, on average, eight days of missed work, costing the United States an estimated $250 billion annually.
Though some industries are at higher risk for workplace accidents, injuries, illnesses, and deaths—like agriculture, transportation, warehousing, and construction—lack of training, improper use, lack of appropriate protection, inadequate risk management, and poor hazard communication are among the most commonly violated OSHA standards. These OSHA violations could be easily resolved through professional, continuous training and assessments to ensure compliance with your employees, fulfilling job-specific safety competency guidelines, and aligning your company policies and procedures with local, state, and federal workplace health and safety standards.
Employers must be diligent in risk and compliance to protect employees from a workplace injury, illness, and death. Don’t let your employees and business become another statistic.
Source Zippia
Appointing an accountability partner like VensureHR can provide you with subject matter experts who can educate you and your employees on the right policies and procedures to prevent workplace accidents. When you partner with us, you’ll receive on-site inspections, including hazard assessments and training. You’ll also gain access to quarterly reviews of loss runs and accident investigations.
VensureHR has implemented virtual loss control webinars that cover topics like Occupational Safety and Health Administration (OSHA) 300 logs, HazCom GHS, and personal protective equipment. We also provide clients with free, in-person OSHA training and compliance services for general and construction industries. Having risk and compliance experts on your side will also help you develop safety programs, such as modified/light-duty return to work and general safety. You can be confident knowing your risk and compliance partners are constantly monitoring real-time, state-by-state legal HR updates that impact compliance and opportunities to expand services, training, and resources.
Let VensureHR be your accountability partner in workplace safety.
Risk management is the process of identifying, analyzing, and evaluating potential hazards in the workplace to mitigate losses, both physical and monetary. By working with a safety and risk consultant, businesses can identify threats specific to their industry and location and create policies and processes to control those risks.
Compliance and regulations keep changing. However, their purpose is to ensure organizations are reducing risks, increase efficiency and provide organizations with insights into their business. Thus, investing in a compliance team can be of immense value. When new regulations are released, your dedicated compliance team will have all the details regarding what your business needs to do to remain compliant and will help implement any necessary changes. Adhering to compliances and regulatory requirements can save organizations by avoiding costs associated with penalties.
Common compliance challenges include workplace health and safety, data management, environmental impact, employee behavior, and process. There are many federal and state regulatory associations that address many of these areas (OSHA, EEOC, SEC, etc.) and include mandated requirements for businesses to follow. Partnering with a third-party consultant can help identify where in your operations your business is non-compliant and will provide solutions to get you back on track.
Regulatory requirements are constantly changing. Unless businesses subscribe to newsletters and alerts from all possible regulatory agencies (OSHA, EEOC, SEC, etc.), and even then, important updates might be missed. To stay up to date with the latest mandates, businesses should consider hiring outside consultants whose purpose is to stay updated on compliance matters in these areas and guide businesses on what to do.
There are many risk management softwares businesses can leverage. Technology enables businesses to assess the impact and likelihood of each workplace risk and help prioritize accordingly. Technology platforms improve efficiency as well, allowing you to keep all risk data in one central location. This helps to monitor each potential threat and the frequency it occurs, which will help you better mitigate risk in the future.
