Farm Safety – Workers Compensation Laws

Workers compensation laws are designed to provide some degree of financial protection or help, in the event that any employee of a business and injured at work, no matter whose fault the injury or fatality may be.

These laws were introduced over time, as part of measures to help protect workers against employers, who often did not give them the protection they needed in terms of workplace health and safety.

Nowadays, most employers are more responsible, and not only comply with these laws willingly, but it is both a moral and ethical responsibility to look after the people they employ.

The nature of workers compensation laws, how much someone is entitled to, what the definitions of injury and fault are, and other considerations will vary from state to state, and country to country, but there are a number of basic principles that will underpin all these types of legislation.

These laws are particular relevance to all types of agriculture and farming businesses, given that there are significant risks the normal day-to-day work, some of which can be quantified and dealt with, other risks that are inherent in the nature of the work itself.

Workers compensation rules are designed to provide compensation to an employee or their family, and that employee becomes unable to perform the duties due to an injury or accident sustained during the course of employment.

There may be certain conditions as to how long an employee has to have been with a company or business before such policies come into effect, but even these will normally be fairly minimal, quite often round 30 days or so

Normally both an employer, and the employee, will make the contribution into the workers compensation fund that will be set up by a local authority. This is a contribution, akin to an insurance premium, and although not technically an insurance policy, workers compensation normally acts in a similar manner.

The main element of these laws is essentially to provide no-fault financial compensation to alleviate significant distress at the time of injury or accident.

There as will normally be some conditions implicit in any claim, again similar to an insurance policy.

These conditions will normally apply to the length of time within which a claim has to be notified, how the accident was reported or managed, and what the employee may be required to do by way of medical examination or assessment.

Payouts made through a worker’s compensation act normally done as a weekly wage, as apart from a lump sum. This in some ways is to keep the process in check, and provided ongoing compensation whilst injury or accident prevents employee working.

In the event of a fatality, then there could possibly be a lump sum payable, depending upon the terms of the scheme.

There is a normal requirement for businesses to have posters up detailing the nature of the scheme, and the fact that the scheme exists for the benefit of employees. Businesses may also have other obligations as to how to publicise the scheme, depending upon the nature of the company or the workplace.

This obligation extends itself to agriculture and farming businesses, although how the publicity and acknowledgement of the scheme works may differ depending upon local authority regulations.

The main obligation on an employee st normally to notify the employer of any injury or accident as soon as is reasonably practical. This is really relevant, even if the injury does not seem particularly serious at the time. Even a minor injury may get more serious over time, and if not immediately notified may invalidate any future claims.

All notifications should ideally be done or confirmed in writing, either by letter or e-mail, as would be the case in a normal insurance claim. This can make a significant difference if there are any problems further down the line by way of delaying or deferment of payment obligations.

There should also be an accident or incident book located in the workplace, where all accidents and incidents should be physically recorded. This is normally an obligation on the employer.

Perpetual Leverage – A Legitimate Compensation Plan

In order to be successful in any work at home business, a legitimate compensation plan has to be in place. More importantly, this compensation plan must be perpetual for you to leverage the maximum amount of profit available. Perpetual by definition means that something will be lasting for all time or occurring over and over. Having this type of leverage of the compensation plan is valuable.

In order to know how to leverage the compensation plan, you must totally understand your companies plan. Some key points to take note of are:

  • What are the products? You really need to understand what the product line of the company is. If you do not know what you are selling then you cannot sell it.
  • What is the profit from each product? Knowing what the profit margin of each product will allow you to focus your main sales toward that one product if you choose. You should still market the others, as multiple sales of those will usually equal one larger sale.
  • Do you have to obtain certain sales levels in order to receive maximum profit margins? Many companies require you to obtain certain sales volume or at the very least, have purchased the products you are marketing in order to receive the maximum profit from that product. If you choose not to purchase a product and you sell one of those products, your sales commission will usually “roll up” to the next qualified member (usually your sponsor). This is why it is important to establish yourself at the top level right out of the gate. This is where the true power of perpetual leverage is achieved.
  • How many levels deep in your team do you get compensated for? Understanding how many levels deep you are compensated for is crucial. Some companies will only pay you for your direct sales and that is it. Others may pay you for your sales and the one person you personally sponsored. The top companies will pay you for as many as five levels deep. This is where your true lifetime residual income will come from. This is why you must build a team that is very wide and then assist them doing the same. Some companies have a bonus pool that is a great reward and incentive for training others to be successful.
  • Are company subscriptions such as marketing systems and training commissionable? Some companies will compensate you for your team’s subscriptions. These subscriptions are from marketing systems or training platforms that are offered. These commissions are generally small, but with a wide team, they can add up fast and are perpetual.
  • Are company events and training seminar tickets commissionable? Company events and training seminars are hard to get team members to attend. But when the company makes those tickets commissionable, attendance skyrockets. Again, these commissions may be minimal, but add up quickly.

As you can see, there are several factors that must be met in order to have perpetual leverage of a legitimate compensation plan. Knowing and understanding your compensation plan is vital. If you do not know what to leverage, you cannot leverage it. Affiliating yourself with a work at home company that has a legitimate compensation plan and can show you how to leverage it is one of the most important steps that you can take.

Exit mobile version