5 Ways UI Claims are Costing your Business: Do the Math

5 Ways UI Claims are Costing your Business: Do the Math

By Michael McPherson Posted April 27, 2016

Overpaid unemployment benefits total more than $14 billion. Many businesses pay more than they need to for unemployment insurance and often don’t even realize it.

Don’t think unemployment insurance is costing you? Let’s do the math:

  • Unemployment insurance costs have risen nearly 80%, reaching an all-time high.
  • An average unemployment insurance claim costs an employer between $6,000 and $13,000.
  • A recent study found that $1 in every $10 of unemployment insurance benefits was paid in error.
  • Businesses spend 12% more on unemployment claims than they need to.
  • Employers only win around 50% of the protests they file. Our staff has a history of winning more than 90% of the protests we file.

In shock? Managing unemployment insurance (UI) claims is no easy task. Not only is it time-consuming but it is also complicated and expensive. But it doesn’t have to be! The good news is you have the power to lower your UI costs. Cost management software can reduce costs for businesses of any size and is far more efficient than the manual process you are probably using now. Unemployment Tracker will help you identify claims that should not be paid, effectively protest them, identify credits you have earned and catch costly errors.

The math is simple and so is your solution. Contact us today for a free demo.

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