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How to Properly Classify Employees to Pay the Least Workers’ Comp Premium

2022-07-19 By //  by Michael Stack

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Price
$129.00
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Course Description

The total cost of workers’ compensation is calculated as Payroll x Class rate X Experience Mod x Adjustments = Premium + Losses (loss sensitive program). A strong system of injury prevention and management is the major determining factor of the variance in total workers’ compensation costs between similar employers, however, mistakes in employee classification mean the employer is paying more than necessary.

This training session will cover:

Examples of the immediate financial impact of proper employee classification
Common class code errors and opportunities
How and where to find payroll deductions in your state
The process to verify the accuracy of class codes in your organization
The biggest mistake companies make
Preparing for the workers’ comp premium audit

And more

WC Mastery Outline - How to Properly Classify Employees to Pay the Least Workers’ Comp Premium

Audit Worksheet

Course Content

Introduction
Lesson 1 – Getting WC Results Now (4:41)
Section 1
Lesson 2 – Why Properly Classifying is Important (21:47)
Lesson 3 – Properly Classifying Step 1 – Start with a Spreadsheet (20:08)
Part 1 Quiz 1 Quiz
Expand
Lesson Content
Classify: Quiz Part 1
Section 2
Lesson 4 – Classifying Step 2 – Payroll Deductions (9:30)
Lesson 5 – Independent Contractor Payroll Deductions (4:52)
Lesson 6 – Classifying Steps 3, 4, & 5 – Rules, Accuracy & Fine Tuning (18:39)
Part 2 Quiz 1 Quiz
Expand
Lesson Content
Classify: Quiz Part 2
Section 3
Lesson 7 – Putting Proper Classification Techniques into Practice
Part 3 Quiz 1 Quiz
Expand
Lesson Content
Classify: Quiz Part 3
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