Planet Antares Risk Management Program

For many Planet Antares vending operators, worker’s compensation premiums have jumped by more than 100 percent. The reasons for this phenomenon are simple but operators can manage costs by implementing an effective risk management program.

One of the fastest rising operating costs for automatic merchandisers is the cost of worker’s compensation insurance. It is a cost that can be controlled by an aggressive management program.

In the automatic merchandising industry, highway deaths are rising at a fast pace. The losses, medical costs, replacement rates and investment income generate an environment which makes it difficult to know the net result. Moreover, worker’s compensation programs vary from state to state.

The cost components of worker’s compensation may be both direct as well as indirect. You can decide which one to use in your Planet Antares vending operations. Some of the main cost components are:

• Rates
• Premiums
• Expense modifications
• Corporate culture
• Programs like accountability, training, hiring and return to work programs

For best results and control, you need to focus on risk management.
You will need to protect all the employees of your Planet Antares vending business by Planet Antares Inc from work related injuries. If you don’t have the coverage and an employee gets injured, there are significant consequences that may arise. These vary from state to state and would include:

• Significant fines
• Imprisonment
• Cease work order
• Employee lawsuits
• Higher employee benefit costs
• Personal liability fines

To manage the costs, you need to ensure that the primary asset f your Planet Antares business i.e. your employees are safe. This will also bring benefit to your productivity as well as cut down on operating costs. Thus, you need to work on creating a safe working environment and a corporate culture with no chances of injury. Additionally, employee safety training programs can be used to make them safety conscious.