In 2008, there were 28 million workers over the age of 55. By 2016, that number is expected to be almost 40 million Automatic Data Processing Insurance Agency, Inc.Automatic Data Processing Insurance Agency, Inc. - an increase of 43%.¹

The U.S. workforce is unavoidably aging, as people are living longer and retiring later in life. And because older workers may be more prone to costly on-the-job injuries, workplace safety is more vital than ever. To minimize the potential for workplace injury and maximize the safety and productivity of mature workers, businesses can focus on strategies that can help reduce injury costs for employees of all ages.

Workplace injuries: An unwanted impact on your bottom line
Recent estimates from the Occupational Health & Safety Administration (OSHA) reveal that U.S. employers pay nearly $1 billion per week for workers’ compensation costs alone.² And with older workers, the injuries tend to increase in severity, recovery time and cost. Employee injuries can carry a significant cost in terms of medical expenses, workers' compensation expenses and lost productivity.

What can you do to improve safety at your business? PropertyCasualty360.com suggests starting with your hiring process: ³

• Be clear on the conditions of the job. When filling a position, give the candidate a conditional offer of employment that can be withdrawn if they are physically or mentally unable to perform with reasonable accommodations.
• Require a post-offer, pre-placement medical questionnaire. Have a medical professional ask the candidate relevant questions about the job to determine whether or not they’re a good fit.

Then, consider implementing a safety program that will encourage the health and safety of all employees. Here are the four primary elements of a safety program: ⁴

1. Top management involvement and accountability. This includes the development and implementation of safety policies and programs, and preparing the organization to deal effectively with emergencies through planning and preparedness.
2. Employee involvement. Provide opportunities for employees to actively participate in your safety program. A clearer understanding of their responsibilities can enhance their motivation to help maintain a safe workplace for themselves, their coworkers and your customers.
3. Worksite analysis. Conduct a trends analysis, which allows a clear vision of the at-risk exposures and a better focus on areas that need the most attention. Worksite analysis also includes periodic inspections of physical hazards to verify compliance with your policies and procedures.
4. Safety training for supervisors and employees. Primary training needs may be mandated by federal or state regulations specific to your industry or operation. For example, employees may need to be educated on special exposures, such as dealing with hazardous waste, operating equipment, or those associated with a specific task or duty, such as driving company vehicles.

The age of experience
Experienced employees can be priceless assets, especially when younger employees need mentoring and on-the-job training. By addressing the needs of a maturing workforce, you may find that having more experienced workers on your payroll can be a tremendous asset rather than a potential liability.

Have questions about a safety program or your property & casualty coverage? Call our Client Services Team today: (800) 524-7024.

Senior Employees: Coming of Age in Today's Workforce

Have you noticed your workforce is getting older? According to the U.S. Bureau of Labor Statistics: ⁵

• By 2018, the number of 65+ workers is projected to climb from 6.5 million to 11 million.
• By 2020, one quarter of the U.S. workforce will be 55 or older compared to 12% in 1990.
• By 2022, 31.9% of Americans age 65-74 will still be working.

For employers, that may just be a good thing. According to the Sloan Center on Aging & Work at Boston College, older workers are more highly engaged and absent less often than young workers.

In addition, the National Council on Rehabilitation Education found that the advantages of an older workforce include: a low turnover rate, commitment to quality, punctuality, high motivation and engagement, strong work ethic, flexibility, loyalty and reliability.

As they continue to make up a larger part of the workforce, you can count on veteran employees to make their mark — and help your business remain competitive.

For more information on property & casualty coverage to protect your business:

Call our Client Services Team at (800) 524-7024 or call your Licensed Client Executive at (866) 970-6278, enter their extension or press 0 for assistance.