Yes… It’s that important!
I’m referring to reducing potential litigious liability for your business through the simple strategy of offering supplemental benefits to include group accident and short-term disability. More than a few studies have been conducted on employees that sue their employers after a workplace injury – especially considering the moment an an employee is hurt on-the-job, workers comp and that employee have exactly opposing interests when it comes to claim payouts (Dolman Law Group, 2015). It doesn’t take a study to know, though, that if an injured employee feels like an unexpected injury won’t hinder his ability to pay bills, buy groceries or take care of his family, he is far less likely to seek indemnity through litigation. Hence, adding options that pay cash benefits in the instance of serious illness or injury is the easiest way to hedge against loss.
Now, I’m sure your team members are super-loyal and they’d never do anything to hurt your organization on purpose, however, in this lawsuit-crazed climate that characterizes Corporate America, why would you not want to insulate yourself against unnecessary risk?
A Win-Win-Win Scenario
I often advise my clients that making these voluntary benefits available to their team members is the most basic no-brainer of a decision a company can execute. After all, when you take a moment to consider the three most attractive features of having a supplemental program in place, it’s hard to refuse:
What safeguards do you have in place to protect your business from being sued over on-the-job missteps?