Workplace safety is essential to any organization, no matter how large or small your company is. The last thing you want as a business owner is an unsafe work environment for your employees, which is why effective risk management is crucial.
HR risk management involves establishing safety policies, conducting audits of the work environment, implementing safety training programs for employees, and ensuring each employee has workers’ compensation insurance.
As a business owner, it can feel overwhelming to stay up-to-date on administrative tasks, including all that risk management entails. Professional employer organizations (PEOs) step in to offer services that help mitigate workplace risks. Let’s dive into risks in the workplace and how PEOs can help.
Identifying Common Workplace Risks
First and foremost, identifying and understanding common workplace risks is crucial for knowing what to look for to help stay safe on the job. No matter what industry you’re in, accidents like slips, trips, and falls are some of the most commonly seen at work. In industries like construction or factory work, the operation and maintenance of large equipment plays a major role in workplace safety.
The Role of PEOs in Risk Management
PEOs specialize in handling businesses’ administrative tasks like payroll, workers’ compensation, risk management, and other human resource services. A PEO’s risk management services may include creating policies with your HR team to establish workplace safety and reduce risks.
Risk reduction strategies might look like implementing safety training programs for your employees to solidify proper procedures for staying safe at work. They may also perform audits of your workplace to ensure the environment is as safe as possible for your workers.
Working with a PEO makes choosing and paying for a workers’ compensation plan simple and straightforward, ensuring your employees are covered in the event an accident does occur on the job. In the event someone is injured at work, a PEO will handle the workers’ comp claim and all that it entails.
Enhancing Employee Safety with PEO Services
Ultimately, PEOs’ risk management services are in place to help enhance employee safety. PEOs typically have software specifically designed to manage workers’ compensation and payroll, which allows employers to automatically process payments. When it comes to workers’ comp, automatic deduction simplifies the process, helping ensure workers have the coverage they need when they need it.
Workers’ compensation is a necessary means of protection if an accident does occur at work, but PEOs also step in to help prevent accidents from happening in the first place. PEOs offer safety programs to help educate workers about risks and prevention. They can also support companies in developing strategies to help keep workers safe on the job.
Working with a PEO for risk management not only helps protect your employees from potential injury or illness, but it also helps protect you and your business financially.
Ensuring Compliance with Regulations
Compliance can be tricky when it comes to workers’ compensation—different states and industries have different rules and regulations. These laws also tend to change over time, making it difficult to stay up-to-date with current requirements. When a business is non-compliant, it may be charged hefty fines.
PEOs are well-versed in state and federal regulations, so a major benefit of working with one is their ability to help businesses remain compliant and avoid fines.
Protect Your Business with PEO Risk Management Services
Without proper risk management, your business may be vulnerable. Implementing safety training programs and having workers’ compensation insurance for your employees is essential when it comes to keeping your workers informed about the risks and protected from potential accidents on the job.
PEO risk management is a great way to get the support you need as a business owner or HR manager. If you’re ready to outsource your HR services and help mitigate risks within your organization, reach out to the experienced team at PEOPayGo to see how they can help. By partnering with a PEO, you’ll have more time to focus your energy where it’s needed most within your business, allowing the risk management experts to do the rest.
