The 30 June 2015 NSW changes include a new formula to calculate premiums with a range of new metrics replacing traditional measures. Although designed to make premiums easier to understand, many people are saying the actual result is wide of this mark. In a recent report Workcover Independent Review Officer (WIRO) labelled some workers compensation changes as too complex and confusing.
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In today’s fast?paced digital world, complexity often slows businesses down. At ABILITY GROUP, we believe success comes from clarity. Our mission is simple: transform complicated challenges into straightforward, actionable solutions that drive measurable results.
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Heading into the NSW State Election, one certainty was that whichever party won, major workers’ compensation reforms would follow. SA has already undergone its largest changes in over 20 years, while Comcare faces widespread modernisation. NSW too has seen dramatic shifts, and with the Liberal government’s return, medium to large business reforms are almost guaranteed. Like SA, these will be the most significant changes in two decades. With privatisation high on Premier Baird’s agenda, speculation has grown that the new NSW WorkCover Insurance logo signals a move to privatise the scheme.
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Our business growth is built on providing our clients and partners with tailored services/solutions. We choose to partner with select general insurance brokers in offering specialist workers compensation related services to their clients. We find businesses that choose to engage a broker benefit in numerous ways. Businesses can save money, improve cover, reduce risks and much much more.
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![Did You Know [Red]](http://abilitygroup.com.au/wp-content/uploads/2015/03/Did-You-Know-Red.png)
Historically the decision to accrue (or the cheaper alternative not to accrue) leave entitlements for injured workers on workers compensation has been a grey area. The resulting uncertainty for many businesses is caused by differences between various legislation. A recent Federal Circuit Court case decision provides greater clarity on this at least for NSW.
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Recruitment and workforce decisions are critical for businesses and shifting local and global economies make them even more significant. Identifying and retaining the right employees helps avoid major costs and frustration. In Australia, rising retirement ages and increased reliance on temporary workers are reshaping workforce dynamics. These long-term employment trends, recently highlighted by a leading journalist, are expected to continue influencing workers’ compensation.
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