CWCAs unbundled costs
and save contractor $25,000
Insured
A midsize masonry contractor.
Situation
The masonry contractor was using a PEO (Professional Employer Organization)
and was concerned what it was paying for Workers’ Comp was higher
than that of its competitors. It was difficult for them to determine their
rate because the payroll taxes, Workers’ Comp and additional fees
were combined.
Assessment
Certified WorkComp Advisors (CWCA) analyzed the PEO invoice and broke out
the payroll taxes, fees and Workers’ Comp costs. It turned out that
Workers’ Comp came to $59,000 a year. The CWCAs requested payroll
data and loss information and calculated the Experience Mod at .95.
Solution
The CWCAs marketed the Workers' Compensation and secured a rate of $34,000.
Recognizing the importance of making smart hiring choices to avoid future
losses due to poor hiring practices, the CWCAs worked with the contractor
to develop rigorous and effective hiring practices.
Result
The CWCAs were able to use their expertise in Human Resources and Workers’
Compensation to assist the contractor in understanding its costs and secure
a savings of $25,000 per year. |