According to the Federal Bureau of Labor and Statistics the construction industry has one of the highest occupational injury rates. What makes the situation worse is that the Social Security Administration notes that disability costs related to these injuries are projected to increase 37% this decade due to an aging workforce. This lost time due to injury/illness impacts both direct and indirect disability costs and that may lead to a variety of issues including a decrease in employee morale, increased litigation, and increased medical and lost time costs. It may also lead to an increased experience modification rate.
So what can contractors do to help control these costs? One of the most practical solutions is to adopt a formalized return to work (RTW) program. A RTW program may provide the opportunity for ill or injured workers to return to the workplace as soon as it is medically appropriate. Effective RTW programs can result in contractors saving as much as 10% to 40 % of workers' compensation medical costs and 14% to 25% of wage replacement costs. Having an effective RTW program in place for your business just makes sense.