Are Return-To-Work Programs Beneficial for Financial Institutions?

June 17, 2015

Employee Injury or Illness Is a Significant Risk to a Financial Institution

A teller falls down the stairs and injures his knee and ankle and needs to keep it elevated for 2 weeks and be on crutches even longer, but is otherwise able to work. Normally his responsibilities require him to be on his feet in addition to making trips to the vault or other areas of the Financial Institution.

An injury to a key employee within a financial services organization can literally cripple the business and severely impact costs and revenues if that employee is out of work for an extended period of time. Return-To-Work (RTW) programs can help mitigate those risks and get an employee and an organization back up on their feet more quickly and efficiently.

The institution’s Return-To-Work program helps identify and implement a solution so that the employee is able to return to work in a few days; he is set up at a workstation where he can elevate his leg and the workflow is modified so that his colleagues assume the duties that would require him to be on his feet or carrying items. Even while he is initially away from work, he is called every day just for a quick check-in to keep the lines of communication open and let him know they are concerned for his well-being.

By taking these actions, the Financial Institution maintains customer service standards and avoids overtime or hiring/training temps. In addition, the institution is able to reduce their claim costs and build good will with the accommodated employee.

Return-To-Work (RTW) programs benefit employers and employees

An RTW program is designed to help an injured or ill worker return quickly and safely to their work environment. By returning to work, the employee benefits from continued engagement, maintaining his/her position at work, and an improved recovery time.

While there is a cost to implement an RTW program, the benefits can be significant:

Key employees return to productive work more quickly
Greater employee satisfaction and fulfillment
Lower workers compensation insurance cost
Enhanced management information for better business planning

Learn more with our free RTW overview

We have created a brief overview of some of the benefits and issues to be aware of regarding return-to-work programs. Click here to access the overview.

We also have a full library of other loss control topics that you can share with your Financial Institution clients.

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