Chairman and CEO report
We are pleased to present the WorkCover Queensland Annual Report for 2008–2009. While we continue delivering excellent services and ensuring we meet the needs of our customers, the past year has been a challenging period given the current economic climate.
Economic climate and our performance
The unfolding of the global financial crisis in 2008 has impacted WorkCover’s financial position this year. Notwithstanding these difficult times, WorkCover Queensland has maintained an average premium rate of $1.15 per $100 of wages for employers while our injured workers have continued to receive some of the best workers’ compensation benefits in Australia.
We have seen our investments realise consecutive years of negative returns; negative 9.4% this year following a negative 2.8% in 2007–2008. The valuation of our outstanding claims liability has also been affected through varying economic factors as well as a marked increase in the number of common law claims and costs.
Prudent financial management including the establishment of an investment fluctuation reserve in prior years has helped us weather the storm to date. As we move forward, careful review of our finances continues to be paramount and tough decisions will need to be taken in order to ensure WorkCover continues to meet its targeted solvency requirements.
Customer satisfaction
We have been conducting customer satisfaction research for over 11 years now, with ratings steadily rising to a high standard. Balancing the satisfaction levels of both employers and injured workers is no easy task and given the changing environment over the last 12 months, we are very pleased with our people’s commitment and dedication to delivering excellent customer service.
Despite the mandatory nature of workers’ compensation, we strive to be the insurer of choice. This goal is reflected in our continued customer focus—listening to our customers and adapting our business to suit their needs.
Operational efficiencies
In the past year our operational efficiencies have all focussed on improving communication and making it easier for all stakeholders to do business with us whether it be premium or claim related. Some improvements have included:
- expansion of online document upload and exchange of information for injured workers, employers and providers
- introduction of more verbal and electronic forms of communication thereby speeding up the process and reducing paperwork
- faster decision times on statutory claims and the finalisation of common law claims
- keeping employers informed about new EBR concepts and online services
- enhancement of claims management with improved internal systems for our people.
Operational efficiencies are an on-going process and with technological advancements, we will continue to pursue more efficient and easier ways of doing business.
Stakeholder relationships
We have a strong commitment to maintaining and nurturing our relationships with all stakeholders. Through a number of new initiatives that improve the level of communication with our injured workers, employers and providers, we are able to listen, understand and action any necessary changes to improve how we work. With better operational efficiencies, our staff are able to dedicate more time to working:
- with injured workers in getting them back to work faster and safer
- with employers and helping them identify ways of reducing workplace injuries and how this can impact on premium costs and
- with providers to help get injured workers back to their workplace faster and safely.
Workplace health and safety—we are all responsible
The safety of our people is a priority and this year we continued to focus on maintaining safe work environments. Our Injury Prevention Management Committee has worked on raising the awareness of safety and this year we have seen a decrease in the number of claims. We will continue to ensure our people are aware that safety is everyone’s responsibility and individuals can personally influence safe work outcomes.
Engaged people
Our people are key to our success and so it is important we continue to listen and work with them. This year we embarked on a new staff survey that measured employee engagement. Research tells us that engaged employees are attracted to and inspired by their work which makes them loyal and committed to the organisation. For our first-time survey, WorkCover Queensland scored very well, especially when compared with other Queensland and Australian organisations. There are of course areas of improvement and action plans have been put in place as part of the 2009–2010 business planning process.
The senior management team at WorkCover remains committed to the engagement survey as it helps strengthen relationships between our people and their managers, thereby building a stronger organisation.
At WorkCover, we have always focussed on work-life balance and this year we introduced a staff wellness program, encouraging our people to undertake some sporting activity that will help in maintaining a healthy lifestyle.
Outlook
WorkCover Queensland is proud to service the needs of injured workers and employers, providing security to Queenslanders in these uncertain times. We are here for you when you need us most.
Our ability to create and strengthen collaboration between our stakeholders has resulted in positive outcomes for the future.
We will continue to be prudent, plan and execute our projects well, and ensure we have engaged people to get us through the current economic challenges. In this way, we can continue to provide a valuable service and ensure we’ve got you covered.
Thank you
We would like to thank our Board members, our executive management team, and all our people for their commitment and dedication to the organisation over the past year. It has been a challenging time and everyone’s hard work is valued and appreciated.
We would also like to thank the Honourable Cameron Dick MP, Attorney-General and Minister for Industrial Relations and the Queensland Government for their ongoing support.