Workers’ Compensation: Managing and Mitigating Energy Sector Claim Costs
The following blog post is published in the 2023 Saskatchewan Energy Report. You might think the oil & gas industry would be high on the list of the most dangerous occupations in Canada, but in fact, according to Avetta’s research (which used statistics from 2017-2019), the energy sector actually comes in 10th on the list. While this might seem like good news — and speaks to the industry’s adherence to safety principles — the reality is that work-related accidents and incidents still happen, and the associated costs of workers’ compensation claims are a significant concern for employers. For most employers, work-related injuries and illnesses are a harsh reality of doing business, and not just because of the lost productivity that is involved, but for financial reasons as well. Disruption of operations is one ramification of an on-the-job accident or incident, but the cost of every Workers’ Compensation Board (WCB) claim […]
Tick Tock – Time’s Running Out!
Starting to feel a little stressed? The deadline is looming! Every year, across Canada, employers are required to report their payroll earnings to their respective provincial or territorial workers’ compensation board (WCB). The WCB then uses the reported amounts to establish the premium assessment for each employer. Workers’ compensation boards are funded by employer contributions, or premiums, that are based on the level of risk associated with their particular industry. Typically, premiums are reflected as a specified dollar amount per $100 of payroll and are calculated based on maximum assessable earnings or the maximum annual earnings on which workers’ compensation premiums can be based. Sounds complicated? You bet! Establishing premiums is a complex, multifactorial process and assessable earnings are only one of many variables that are used in the calculations. Determining what part of payroll earnings are assessable and exactly what needs to be reported can be equally complicated, especially […]
Mental Health in the Workplace – Tips and facts for a healthy workforce
Canada will be activating a three-digit number for suicide prevention on November 30, 2023. If you’d like to know more about this, please visit the Government of Canada website. If you are in Canada and you, or someone you know, need help now, please continue to call 1.833.456.4566 any time, or text 45645 between 4 p.m. and midnight ET. Blue Monday, possibly the saddest day of the year, was January 16th and Bell Let’s Talk Day is January 25th. We are heading into the depths of winter and into the fourth year of dealing with the physical, financial and emotional impact of the COVID pandemic. It’s no wonder everyone is talking about mental health. The recent focus on the awareness and acceptance of mental illness and the effects that stress has on our overall well being only highlights the connection between workplace safety and a psychologically healthy work environment. ‘Blue […]