The dilemma facing XYZ Employment is the cost of providing Workman’s Compensation Insurance and the costly nature of its claims. All companies that have employee require this costly, yet necessary standard. It is provided to protect hard working employees in difficult circumstances. While most times it is a legitimate claim, fraud does occur. XYZ would like to eliminate the preventable claims and fraudulent collections. XYZ is making all efforts to reduce this cost by the significant amount of 40% by yearend. XYZ Employment intends to discuss the significance, scope, magnitude and feasibility of a solution to this outrageous associated cost, through various methods of research. This will …show more content…
It is the company’s obligation to all new hires to show them the ropes of their company. It is their responsibility to make sure that they understand the company policies and to have their signature on the addendums that are in the employee packet.
By effectively identifying the questions, we are able to determine the type of research that is needed in order to answer the questions effectively. The research can include looking over previously filed claims, talking to employees, and observing their actions to see if there is anything unsafe that needs to be addressed. Variables also need to be taken into account prior to beginning research. These variables could include the cost of replacing an employee and the loss of profitability due to employee’s being out due to injuries. Researchers must keep in mind the variables, both dependent and independent, as well as the question they are trying to answer when performing research. This will allow us to ensure the research performed is proactive in finding solutions to alleviate XYZ Employment Agency high cost of worker’s compensation.
In the first part we explored the workman’s compensation problem with XYZ Employment, and hypothesized on what the possible issues may be causing company employees to be involved in harmful accidents. In part two, we will explore the proper research