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COR benefits
Employers possessing one or more Certificates of Recognition (CORs) make a strong statement about how much they value their workers and how committed they are to ensuring workers and workplaces are safe and secure from injury, illness and disease.
Employer benefits
The reward for this new, higher level of accountability is, first and foremost, a safer, healthier workforce — but there are important financial benefits as well. WorkSafeBC provides incentive payments to COR companies in good standing. Incentive payments are calculated using a company’s assessable payroll and the base rate for each classification Unit (CU) for the incentive year.
Employers who obtain the Health and Safety COR will receive an incentive payment using the following calculation:
Employer’s reported assessable payroll x CU Base Rate divided by $100 of assessable payroll x 10%
For example, if your reported payroll was $2 million and your CU base rate was $2.00 your incentive payment would be $4,000:
| ($2,000,000 x | $2.00) | x 10% = $4,000 |
| $100 |
If you also possess the Injury Management/Return-to-Work COR you are eligible for an additional 5%, (or $2,000).
Over time, with reduced injuries and shorter claims duration, certified employers' experience-rated WorkSafeBC premiums will reflect additional savings. Also, in some industries, CORs are becoming a requirement as a prequalification to bid on work contracts.
Number of Health and Safety COR
