Home > Workmens Compensation > Employer Diagnostics for Workers’ Compensation

Employer Diagnostics for Workers’ Compensation

A lot has been said about employee workers’ compensation, but very little about what affects the employer. Most conversations talk about risk classes, but nothing on howto save money on workers’ compensation premiums payable to the State. In Washington, premiums are paid directly to the government on a quarterly basis. But no one checks to see if the assigned classifications are correct. Most companies consider this tax a burden to the company and tolerate it.

Since implementation of the new record keeping reporting requirements, accounting programs do not have the capability to capture all the compliance rules and regulations. Hence, a brand new way to look at your risk classifications as a profit savings center and review these annually by qualified classification auditors. Remember, most state’s workers’ compensation funds are broke. They will use any aggressive audit method to generate new taxes.

These Classification Auditors review your assigned business risk classifications, method of time recording, and reports. They will even work with your HR departments to rewrite job descriptions to protect you. Most payroll company programs cannot capture multi-classification reporting that can save you money. And, they cannot tell you how to use them to your advantage to save your precious profit dollars. For the first time ever, compliance accounting data entry programs can do this.

Their purpose is to capture employees, independent contractors, and project/prevailing wage data on the cloud for the manager, accountant, and payroll department to conform to the new reporting regulations. Most states have a long laundry list of what has to be on a time card whether electronic or hand written.  If you know anyone who has been recently audited, you know the pain they went through screaming: “I had the right hours but they penalized me on how they were kept!” It is time to fight back.

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