What Is One Way to Reduce Workers' Compensation Costs

question 97

Multiple Choice

What is one way to reduce Workers' Compensation costs?

• A) Hire only employees over the age of 21.
• B) Perform an audit to assess high-risk areas within a workplace.
• C) Advocate for stricter legislation.
• D) Encourage supervisors to monitor younger workers more closely.

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Definitions:

Average Total Cost

The sum of all production costs (both fixed and variable) divided by the amount of product made.

ISO Quality Standards

A series of frameworks and guidelines established by the International Organization for Standardization to help companies ensure their products and services meet customer and regulatory requirements.

Total Quality Management

An extensive management approach focused on continuously improving the quality of products and services to achieve customer satisfaction.

Regulatory Standards

Established rules and specifications issued by regulatory agencies that businesses must comply with to ensure safety, quality, and fairness.