Workmen’s Comp. Costs

While manufacturers across the country are losing money because of yearly increases in worker's compensation claims, a Massachusetts-based maker of men's suits named Grieco Brothers is saving a bundle. The average numberof compensation claims filed by Grieco's workers has declined from 73 in 1987 toonly 15 in 1989. During that period, thenumber of days lost due to workers' accidents dropped from 1,769 to 452. Thecompany now spends far less than itused to on insurance premiums.

Grieco hasn't discovered some sort of miracle drug, nor has the company's 600-person workforce suddenly become immune from medical problems. The stitchers and pressmen still suffer from repetitive motion syndrome and loading-dock workers still lock up with backpain.

Already a subscriber? Sign In

About the Author(s)

Related Articles

KEEP IT IN THE FAMILY

The Family Business newsletter. Weekly insight for family business leaders and owners to improve their family dynamics and their businesses.