Chicago, IL – With an estimated 140.3 million U.S. workers receiving workers’ compensation benefits, frontline claims professionals are personally responsible for managing a total economic outlay of nearly $100 billion dollars in benefits paid annually. Coupled with the industry’s talent crisis – with an imminent mass exodus of retiring claims professionals and challenges attracting young professionals – the impact that frontline staff have on the industry’s financial viability and injured worker outcomes cannot be overstated.
Now in its seventh year, the Workers’ Compensation Benchmarking Study – for the first time ever – surveyed 1,282 members of this critical talent constituency to ascertain how their views mirror or differ from the 1,800-plus claims leaders who participated in prior research. Reprising questions from past surveys, the 2019 Report not only provides recommendations to improve overall operational performance, it also provides strategies for how to best incentivize and retain the frontline talent pool.
“We’ve got a ‘perfect storm’ threatening the workers’ compensation industry right now,” says Rachel Fikes, chief experience officer and study program director at Rising Medical Solutions. “Frontline claims professionals are the largest and most influential employee population in our industry, yet, very little research has been conducted with them to date. Adding frontline intelligence to the study’s cumulative data can help organizations advance claims management and talent practices, as well as confront the increasing stakes of attracting young professionals to our industry.”
The 2019 Report examines frontline perspectives on topics such as:
- Ranking of core competencies most critical to claim outcomes
- Claims functions that frontline staff spend the most time on
- Effectiveness of systems / tools in managing best practices
- Assessment of job meaningfulness
- Investment in new hire and senior staff training, and whether it’s considered adequate
- Ranking of company benefits that frontline staff most value
- Understanding of advocacy-based claims models
- Assessment of technology and data’s effectiveness in performing current job
- Views of technology delineated by years of claims adjusting experience
- Usage rates of various analytic programs
- Ranking of medical management training, and whether it’s deemed adequate
- Ranking of the most important provider quality measures
As in prior years, the 2019 Report will be available to all without cost or obligation as a contribution to the workers’ compensation industry.
The 2019 Report may be requested here: 2019 Workers’ Compensation Benchmark Study