Although you might sometimes think that, it is actually an acronym
for Return on Investment. In fact, it is an important concept even in areas you
might not have considered.
Today I saw an advertisement by an insurance company selling a
positive ROI from having healthy employees by providing voluntary benefits. I agree but would also like to make a case for using an employer-paid STD benefit
instead of voluntary. Most employers will have noticed a worker’s compensation
event can have a very negative impact on what is referred to as your MOD
The problem here is that employees who do not have coverage for life, disability, and medical events may feel compelled to have those things occur while they are working. If you haven’t already, you might want to consider an employer-paid disability plan.
An employer who implements a short term disability program for all employees might well see a reduction in minor workers’ comp claims. We sometimes refer to these as weekend warrior injuries that miraculously show up on Monday as workers compensation claims. The coverage is relatively inexpensive, and if it allows you to control an increase in your mod factor, I think you will find it well worth considering.