Don’t Let Injured Employee Turnover Affect Your Business
High employee turnover is costly for businesses in terms of time and money. Recruiting, hiring, and training new employees can be resource-intensive. RTW programs help mitigate turnover by retaining experienced and skilled workers who might otherwise leave the company due to prolonged absence or disability. By maintaining a stable workforce, companies can avoid the expenses associated with hiring and training new employees, thereby saving valuable resources. Additionally, when injured employees have reached Maximum Medical Improvement (MMI), they can return to work more quickly.
RTW programs can help reduce employee turnover costs. RTW programs can assist by continuing employee engagement, even through injuries. Building employee engagement as they recuperate from an injury creates company loyalty and reduces the risk of staff turnover.[1] According to the Center for American Progress, there are significant costs for businesses associated with replacing employees, from direct costs such as replacement costs and training to lost productivity from employees. Their research determined that the average economic cost to replace a skilled job is up to 231% of the yearly salary for that employee. [2]
Additionally, the Bureau of Labor Statistics states that an injured employee only has a 50% chance of returning to their occupation after a six-month absence. Implementing a Corporate Return-to-Work model increases the successful reintegration of an employee into the workforce after a workplace injury. [3] Research affirms the high cost associated with high turnover and the effort needed to replace those workers.
Reduce Turnover and Retain Employees with ReEmployAbility
Providing appropriate medical accommodations for employees with workplace injuries reduces workers’ compensation costs for companies, such as turnover and hiring costs. Return-to-Work programs (RTW) are crucial for companies to provide appropriate support for injured employees, assist with their rehabilitation, and reduce associated injury costs. RTW programs are beneficial across multiple factors, including providing companies with improved workplace morale and productivity after a colleague is injured on the job.
RTW programs can uniquely support your workplace and business needs, assisting with various injuries, illnesses, and medical restrictions. Empower your Return-to-Work program with ReEmployAbility’s flexible Transition2Work program. Even with a workplace injury, employees can recover quickly, be supported through the healing process, and maintain productivity, helping reduce the impact on turnover.
Keep Transition2Work In Your Corporate Toolbox
With ReEmployAbility’s Transition2Work program, your business can save money associated with turnover from injuries. Our innovative Return-to-Work program can locate light and modified duty for injured workers, enabling them to more quickly reintegrate into their work life post injury. The Transition2Work program is available in all 50 states, boasting over 48,000 ReEmployAbility Nonprofit Partners, and can locate light-duty opportunities across a wide range of medical restrictions. Take advantage of our innovative program to support your workforce while also reducing employee turnover. Transition2Work is a useful RTW program as a modified duty option. Partner with ReEmployAbility today to support your Return-to-Work program!
Contact ReEmployAbility’s Transition2Work experts today to learn how we can assist with your Return-to-Work needs. Reducing turnover costs should be a key part of your RTW strategy.
Resources:
- Caitlin Morgan. (n.d.). Common costly mistakes in workers’ compensation return to work (RTW) programs. Retrieved September 24, 2024, from https://www.caitlin-morgan.com/common-costly-mistakes-workers-compensation-return-to-work-rtw-programs/#:~:text=Return%2Dto%2DWork%20(RTW)%20programs%20are%20plans%20established,developing%20an%20effective%20RTW%20plan.
- American Progress. (2023). There are significant business costs to replacing employees. https://www.americanprogress.org/article/there-are-significant-business-costs-to-replacing-employees/#:~:text=Conclusion,having%20to%20sacrifice%20their%20livelihoods
- U.S. Bureau of Labor Statistics. (2023). News release: Workplace injuries and illnesses—2022. https://www.bls.gov/news.release/osh.nr0.htm
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- Employees with Non-Occupational Injuries Supported with Transition2Work
- Return-to-Work Helps Reduce Workers’ Compensation Costs