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In an increasingly complex and competitive marketplace, businesses of all sizes are searching for innovative ways to improve productivity and expand revenues.
Understanding the complexities behind what motivates employees or even the effectiveness of an absence management or workers’ compensation program can be difficult. Yet that information can make a significant difference when trying to lower workers’ compensation costs, reduce turnover, and build a work culture that aligns with your business objectives.
Too often executives simply rely on assumptions that may not be representative of the entire work force. Reviewing select workers’ compensation cases or conducting a safety inspection may not uncover the real issues that are driving costs. Talking to a few employees about your corporate culture and productivity issues may not uncover what motivates and encourages the work force as a whole.
What Will You Say When They Ask What Happened?
When considering employee- and workers’ compensation-related issues, executives ask themselves the following questions:
- What internal issues are driving workers’ compensation costs?
- How do I manage workers’ compensation costs? What programs are most effective?
- How can I measure and better understand cultural challenges within my organization?
- Is there a motivation problem across the company or just at certain locations? Are all employees affected or just certain groups?
- Are employee attitudes and behaviors lowering productivity? Why?
Who's Looking Out for You?
A diagnostic assessment can help an organization benchmark performance against industry peers, focus on those issues that will deliver the highest return on investment, and develop a baseline from which to measure the success of management programs into the future. Surveys and interviews, coupled with an advanced statistical analysis, will ensure that results are accurate and representative of all employees, not a few "squeaky wheels."
Gap Analyses: The Workforce Strategies practice offers a variety of gap analyses to measure client performance against recognized industry-leading practices, while identifying major cost drivers and then mapping a plan for improvement. Specifically, a gap analysis is designed to help clients prioritize those risk management projects that will deliver the highest return on investment.
Gap analyses cover a wide variety of topics including: workers' compensation, ergonomics, safety and health, fleet management, warehouse and distribution center management, and OSHA management.
The Marsh consulting team gathers data on your workers' compensation programs by:
- Interviewing key stakeholders, including company executives, risk managers, safety personnel, workers' compensation coordinators, and occupational health professionals
- Facilitating focus groups comprised of site managers, frontline supervisors, and employees
- Conducting a walk-through to find out how safety programs are implemented and observing related employee behaviors
- Completing a thorough review of the organization's policies and procedures
- Comparing the client's workers' compensation metrics and financial performance against industry peers to evaluate performance
The resulting Marsh report measures the organization's performance against financial metrics and process best practices. The analyses are used to identify and prioritize next steps to mitigate risks and positively influence an organization's bottom line.
Employee Risk Assessment (ERA):
When an employer is facing a multitude of issues from across the organization — such as rising workers’ compensation costs, lowered productivity, and poor morale — it is safe to assume that there are cultural, not just best practice, issues at play. Marsh’s ERA can help organizations measure the complex relationships between employees, supervisors, and the organization and gain a better understanding of the company’s culture.
The Marsh ERA addresses the relationships between employees and supervisors and looks at issues such as trust and reinforcement, while considering background workplace influencers such as job satisfaction, workplace stress, and job security.
Data is gathered through a blind survey, and a statistical analysis summarizes employee concerns on key topics, not just individual questions. Through the ERA, Marsh specialists are able to demonstrate correlations among different measurements and compare the responses of different groups, whether they are divided by location, department, or any level within the organization.
The final report demonstrates the interrelationships of issues such as trust, reinforcement, satisfaction, and risk as they relate to overall job satisfaction and performance. The result is a roadmap supported by validated data that provides guidance on how to motivate and improve employee performance.
If you have any questions or would like additional information, please contact us.
If you are seeking information about insurance and related services, please visit marsh.com.
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