WorkCover premium can represent a significant cost for employers second only to payroll in some instances. Whilst your premium can be impacted by your WorkCover claims experience, it is also important to ensure that your business is correctly classified based on workplace activity and that remuneration estimates and declarations are accurate for each workplace.
Workplace HR Solutions can conduct a diagnostic check of your business to ascertain current methodology used to determine your annual rateable remuneration including wages, superannuation, allowances and contractors; all areas which are susceptible to error and non-compliance. We will also examine the applicability of the WorkCover Industry Classifications currently allocated to your workplaces.
The diagnostic check will enable us to:
- Determine if you are currently certifying the correct remuneration or if you are at risk of under or over declaring remuneration
- Ascertain if all workplaces are correctly classified
- Determine if you have been paying too much premium in the past thus entitling you to a refund
- Explore ways in which you can legally reduce your ongoing annual WorkCover premium liability
Upon completion of the diagnostic check we will provide you with our findings and the steps needed to take corrective action. This may be to obtain a refund if you are assessed as currently paying too much, or to ensure legislative compliance and avoid potential fines.