Workers compensation is a big part of working for any company, whether it’s a small store or a massive corporation. Yet many employees don’t even know if their company offers workers compensation and what it can do for them. Workers compensation is built to protect employees and employers alike in order to maximize company output while building trusting internal relationships. Here’s what workers compensation does for you, the employee, and why your company should have it.
Understanding Workers Comp
Workers compensation is an insurance policy that a company takes out to cover its employees in case they get injured while at work. Coverage can include medical expenses, lost wages, and any other costs associated with an injury. They often do not include damages such as pain and suffering. Workers compensation helps keep an employee who has been injured afloat until they can go back to work.
Why Workers Compensation Matters
Workers compensation is important for a number of different reasons. For one, it safeguards against debt if an employee gets hurt. It also prevents an injured employee from suing the company for negligence, or anything else that might have caused the accident. This is a way to encourage businesses to invest in workers compensation, and to keep a workers compensation attorney Oregon from entering the picture.
What It Means if Your Company Doesn’t Have Workers Comp
A company that doesn’t have workers compensation for its employees, especially one that offers other benefits, can be a big red flat to potential employees. In some states, workers compensation is mandatory for certain businesses, if not all. Find out if your company is legally required to have workers comp. If they are not complying with state laws, there may be other important matters they aren’t telling you. A good company that cares for its employees usually offers workers compensation as a benefit.