For CEO’s, CFO’s, business owners or HR professionals, workers’ compensation is a fundamental part of doing business. Nevertheless, the ins and outs of workers’ compensation can prove difficult to navigate. A backlog of open claims can deal a heavy blow to your company’s financial resources and keep valuable employees on the sidelines longer than they should be.
Workers’ compensation is an area of business where it is critical to have established systems in place before an unfortunate workplace accident occurs. Every state has its own rules and regulations regarding workers’ comp, and you need to be intimately aware of what these are for any state in which you have employees.