Bringing wisdom and expertise to the workforce, the Baby Boomer generation is a significant factor in the workcomp arena, affecting claims costs and outcomes. How can you protect yourself against the safety implications of this aging workforce while reaping the benefits of this enormous sector of the employment pool?
Proactivity is Key
Though occupational injuries tend to decrease with age, those that do occur are typically more costly, requiring significant recovery time as well as 50% higher medical and 25% higher indemnity costs on average compared to younger generations. Recognizing common injury patterns is key to prevention.
Helping Your Aging Workforce Work Smarter
With the help of HR – and your elder employees – identify areas for improvement in…
Decreased reaction times, memory problems, and declining vision, hearing and coordination can lead to slips, falls and strains. Look to opportunities in ergonomics, analyzing tasks step-by-step to match workers to positions based on needs and limitations.
A key cost-driver, comorbidities including diabetes, hypertension and obesity increase in likelihood with age, complicating and lengthening claims recovery. Associated with a 341% increase in total incurred cost and 285% additional temporary total disability, regular assessments comparing employee health conditions to capacity to safely perform tasks are key to avoiding injuries.
• Wellness & Prevention
Gym membership reimbursement, nutritional counseling, and weight-management initiatives can reduce comorbidities, promoting health in aging workers to boost performance quality, safety, and longevity. Studies show such benefits reduce absenteeism, returning $3 in healthcare savings for each $1 invested.
Looking for more tips on workplace adjustments to better accommodate your aging workforce and control claims costs? Get proactive with the help of Minnesota Comp Advisor today.