Labor Market Surveys
Labor market surveys are used by insurance companies and large employers to determine what type of jobs are available for a person who is collecting wage-loss benefits from them as a result of an injury. The injury can be a result of an incident at work, or driving a vehicle or a slip and fall at a grocery store, etc. It can also be used by divorcing spouses when one claims more alimony is needed as their work skills have been inactive and there is no work available for them in the employer labor pool.
Surveys are completed by having information available about the party involved such as education, complete work history, salary, hobbies and areas of interest as well as any physical limitations that might be present. Information is normally gathered over a two to three day period by using sources such as newspapers, national yellow pages and human resource offices of larger employers. A survey consist of normally ten to l5 employers who have current openings that are a good match based on the factors known. Included in the survey is the name of the employer, address and phone number as well as the contact person. A complete job description would include job title and duties, requirements for hire as well as hours and benefits and job location. Promotional opportunities must always be considered in regards to future earning potential.
An average of all the employers wages garnered are then divided by total wages for all jobs and the number of employers sighted in the survey. Thus a figure becomes known that can be used as a reliable tool when determining present employment earning potential. Good surveys are worth their weight in gold when it comes time to deciding who gets what or is used to come to a fair settlement with insurance cases.
A company whose system, Tucker Insurance Services, has been preparing surveys for their clients since 1976. For more information please Contact Us.