Loyaltyworks’ Safety Incentive Programs Reduce Insurance Premiums and Increase Safety Awareness

Atlanta, GA (PRWEB) March 28, 2013

Loyaltyworks, an Atlanta-based premium provider of incentive programs, customer loyalty programs and employee recognition programs, is proud to announce an expanded focus on providing safety incentive programs. They’re working with different companies in various industries to help them increase safety awareness and reduce safety incidents and related costs.

Loyaltyworks is working directly with its clients and partners to craft safety incentives that reduce the direct and indirect costs associated with workplace accidents and injuries. In fact, one of Loyaltyworks’ recent safety incentive programs produced a 20% reduction in insurance premiums, worker’s compensation claims and accidents. The program also produced a 15% decrease in sick time and employee absenteeism. On average, Loyaltyworks’ safety incentive programs return two to three dollars for every dollar invested.

Safety incentives are important for maintaining a company’s financial integrity because each on-the-job injury or accident costs employers an average of $17,000 in direct costs. That cost includes items like insurance premiums, workers comp premiums and medical treatment. What isn’t included are indirect costs like lost productivity; repairs of property and/or equipment; training replacement employees; investigations; development and implementation of new safety procedures; and lowered employee morale and absenteeism.

Safety incentive programs increase safety awareness and reduced insurance premiums by rewarding participants for meeting or achieving various safety goals, training and objectives, such as reductions in incidents, days without incidents, completing safety training, being observed putting safety training into action, or for offering suggestions for a safer workplace.

Loyaltyworks has found that each safety incentive program must meet the following criteria to be considered a success:

   •      Manager buy-in
   •     Reward obtainability
   •     Achievable but challenging goals
   •     Understandable rules
   •     Participation
   •     Prevention of under-reporting accidents
   •     Attractive reward items
   •     Training
   •     Increase safety awareness

About Loyaltyworks
Loyaltyworks is a provider of online incentive programs that include employee loyalty programs, customer loyalty programs, and distributor loyalty programs that provides point-based reward platforms to a broad range of clients for over 30 years. Today, utilizing the RewardTrax system, Loyaltyworks provides an incentive program solution to a broad array of clients for the ISI group. The ISI group was recently recognized as an Inc. 5000 company and received AAA accreditation from the Better Business Bureau.

Loyaltyworks
1-800-844-5000
2337 Perimeter Park Drive, Suite 220
Atlanta, GA 30341

Read the full story at http://www.prweb.com/releases/2013/3/prweb10582423.htm