North Carolina Workers’ Compensation: It’s About Record keeping
In an audit, a lot of attention will go to the number of hours that each of your employees worked throughout the year. The overall number of hours is only part of the story, however. The way that you record overtime pay can have a huge impact on the calculation of your workers’ comp insurance payment responsibility. While overtime pay calculation varies by state, experts state that this issue is one of the biggest factors in costing businesses too much in workers’ comp payments.
Classification is Critical
Did you know that the North Carolina workers’ compensation rate for a retail worker is ten times as high as the rate for a clerical worker? The way your employees are classified can make a difference of thousands of dollars. If your workers are classified incorrectly, you may well be paying far more than you need to. In the case of subcontractors, it is possible that you could be paying for workers’ comp when you don’t need to at all!
Trust the North Carolina Workers’ Compensation Experts
Audit time is no time to scramble to assemble incomplete records or rethink the classification of your employees. Our Human Resources services include ongoing expert analysis of workers’ compensation issues as they apply to your company and its workers. When it’s time for an audit, the process is smooth, quick, and as inexpensive as possible.