Workers compensation is typically one of the largest costs for a business. If not actively monitored/managed your premium can increase quickly. Embedding HR, WHS & staff well-being strategies in your workplace can help ensure affordable premiums.
A significant contributor to employee absence is workplace bullying. Workplace bullying is reflective of a persistent pattern of mistreatment from others causing either physical or emotional harm, typically through humiliation, verbal and physical means.
The State Insurance Regulatory Authority (SIRA) have commissioned an independent review of the performance and compliance of the NSW Workers Compensation Nominal Insurer – icare.
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icare have released insights on how the scheme is performing based on actuarial data. Data identifies noticeable increases in both psychological & medical related claim costs increases.
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Compliance Monitoring Audits conducted by Fair Work Ombudsman in NSW, Victoria & Queensland has recovered more than $580,000 in unpaid wages following a number of audits that uncovered employer’s non-compliance with Australia’s workplace laws.
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Early intervention practices can foster a happy & healthy workplace. Responding early to incidents or situations, can help prevent workers from becoming ill, taking long-term sick leave or submitting a workers compensation claim. Policies & procedures also play an important role.