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Greater Workplace Safety Can Save Your Business Money

Workers’ compensation costs employers an average of $1.37 per $100 of payroll. That figure can vary widely, because dangerous occupations cost more to insure. The base cost for construction work could be $15.00 or more per $100, while it could be less than $0.25 per $100 for bank tellers. These figures on their own may seem small but, when applied to payroll for a workforce, they mount up fast. Understanding how your premiums are set may help lower your rates.

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Why Maintaining Payroll Records Remains an Absolute Must

The COVID-19 pandemic has forced many small businesses to reduce their operations, furlough workers and even shut down for a period. But this doesn’t mean employers can allow payroll recordkeeping obligations to lapse. Your business is still responsible for creating and maintaining records for possible inspection by the Equal Employment Opportunity Commission (EEOC) and the Department of Labor (DOL).

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