When it comes to corporate insurance coverage, one persistent sore spot is workers compensation. Fifty-nine percent of employers say they're very or somewhat worried about the cost of workers compensation insurance, according to a recent survey by financial software provider Zywave. Joyce Long, global practice leader for Marsh Risk Consulting's workforce strategies group, says companies' efforts should start during the hiring process with a good description of the job they're filling, including physical requirements.

Once the hiring is accomplished, Long emphasizes the importance of training new employees: "You have to provide them with the safety rules and training for the job they're going to be performing and the work area they're going to be in."

Michael Stack, director of operations for Amaxx Risk Solutions, which provides workers comp publications and data, says companies need to take a hands-on approach even if they've outsourced their program to a third-party administrator (TPA).