< PreviousStrategic Goal: Improve the return to work experience for all stakeholders, ensure the worker stays healthy during the return to work process, identify and address suspected inappropriate return to work activities by employers and reduce the number of days lost.Strategic Initiatives:Expand industry-based safety programs’ capacity to provide return to work programsThe WCB will look for opportunities to partner with industry-based safety programs (IBSPs) to promote return to work programming to their industries. The WCB is committed to supporting best practices and promoting the value of return to work. This includes helping workplaces increase the effectiveness of their return to work programs, delivering return to work training and ensuring the WCB provides quality services to assist workers in a timely and safe return to health and work.Improve healthcare access and quality for workers through provider partnershipsThe WCB will partner with community healthcare providers in the development of Worker Care Clinics. The goals of these partnerships include improving access to timely treatment for injured workers, improving timeliness and quality of healthcare reporting, improving physicians’ understanding and knowledge of return to work best practices through education, and improving the overall communication between the WCB, injured workers, employers and healthcare providers.Enable Successful Return to WorkThe WCB will continue its work to support healthcare providers through initiatives focused on electronic healthcare reporting and billing. The WCB has seen success in its e-health application for physiotherapy service providers and will expand this initiative to provide greater online capabilities for other healthcare providers, including chiropractors and physicians.Increase awareness, education and trainingThe WCB will continue to meet the need for quality return to work training and consulting for employers through courses such as our Return to Work Basics course and consulting services to help employers gain an understanding of the basic components and best practices needed to build effective workplace return to work programs.We will provide education and support to healthcare providers through planned outreach activities focused on raising awareness for WCB return to work programs, and find ways to work together to support injured workers through the return to work process.Our vision is to empower stakeholders through improved knowledge and understanding of their rights and responsibilities in the return to work process. We plan to leverage our systems and utilize new and existing technologies to better support workers in their timely return to health and suitable work.Leverage technology and analytics to improve outcomesWe will continue to find opportunities within our current claims systems to support and improve return to work outcomes through data analytics, while also continuing to develop our technology infrastructure to support new initiatives such as our electronic healthcare reporting and billing.90 2021 WCB ANNUAL REPORTFive Year TargetsIn the five-year period covered by this plan, the WCB is focused on the following milestones:70%of injured workers returning to safe and suitable work after 10 days.Achieve at least: 95%of injured workers returning to safe and suitable work after 60 days.Achieve at least: 2021 WCB ANNUAL REPORT 91Strategic Goal: Strive to improve customers’ satisfaction with their WCB experience.Strategic Initiatives:Continuously strive to improve the quality of services we deliverThe WCB is committed to seeking out new and innovative ways to enhance the service we deliver to our customers. We will continue to develop comprehensive customer service initiatives to improve the overall customer service experience and provide additional ways for customers to communicate with us.We will focus on ensuring our customers’ access to the information they need takes into account the myriad communications channels available. This increase in choice will provide them with greater flexibility in how they communicate with us and streamline our processes based on best practices.Utilize data analytics and tailor services to meet the unique needs of our customersThe WCB will leverage data to support the decision-making process for our key stakeholders. For workers and employers, this means providing them with claims information and other data to help them analyze trends and gain a better understanding of WCB systems and processes. As an organization we will continue to analyze injury and return to work data to improve the customer service we provide.The WCB will also support industry-based safety programs (IBSPs) by providing meaningful data and information to assist in the delivery of injury prevention and return to work programming tailored to the needs of different industries.Deliver Excellent ServiceImprove communication with customers and stakeholdersWe will continue to collaborate with our partners to deliver information and solicit feedback through opportunities such as the Winnipeg Chamber of Commerce’s Healthy Workplaces Program, the WCB Return to Work Conference (in collaboration with the Manitoba Chambers of Commerce) and the WCB Return to Work Award, which is presented as part of the Manitoba Chambers of Commerce annual Manitoba Business Awards. The WCB also commits to engaging with the healthcare community to clarify roles and expectations to promote the effectiveness of return to work programs.92 2021 WCB ANNUAL REPORTFive Year TargetsIn the five-year period covered by this plan, the WCB is focused on the following milestones:Maintain the accident fund reserve in keeping with the 130% funding ratio target 80%in customer satisfaction of employers and injured workersAchieve at least: of claims paid within 14 days of injuryAchieve at least: 70%Achieve and maintain an average assessment rate at under $12021 WCB ANNUAL REPORT 93Strategic Goal: Attract, retain and develop our people to align with our evolving needs.Strategic Initiatives:Support the ongoing development of employees to achieve our visionThe dedication and commitment of our employees is integral to our organization achieving its goals and vision. This commitment is key to delivering exceptional service, finding opportunities for improvements in the way we do business and supporting the evolving needs of our customers.The WCB is committed to investing in initiatives that build skills and competencies that will help us continue to build a workforce focused on innovation, as well as professional growth and development.The WCB recognizes that continuous learning and development promotes employee engagement and successful job performance. We will continue to deliver initiatives that support educational, training and professional development to enhance the knowledge, skills and competencies of our staff. This includes supporting employee development in both their current job responsibilities and future career opportunities with the WCB.To promote the education, training and professional development of our staff, the WCB has introduced new corporate policies that commit to funding a broad range of educational opportunities for employees, such as half-day seminars and workshops, courses, technical training, as well as degree, diploma and certificate programs. This will ensure our employees have the knowledge, skills and competencies needed to be successful in their careers, as well as ensure our workforce is qualified and skilled in helping our organization meet its strategic goals.Grow Our PeopleEnhance employee engagementEnhancing employee engagement includes ensuring our workplace environment supports and promotes mental health and safety. The WCB will continue its work to deliver on our mental health strategy, which includes leadership development, training for our staff to raise awareness, as well as initiatives that foster understanding and support for mental health issues.Enhancing employee engagement will also include continuing our work to provide employees with effective work spaces that promote collaboration and increase organizational efficiency. In the coming year, we will be entering Phase 2 of our multi-year office renewal plan, which will include ongoing upgrades and improvements to our office space throughout our organization.Renew succession management strategiesOur organization’s success depends on our ability to prepare and plan for the future.To do this, we will be implementing strategies that promote succession management. Our workforce is changing and evolving, as people move into different phases of their careers. We are committed to ensuring we have the employees with the right skill sets and competencies to meet the evolving needs of our organization and our customers.We are committed to developing our people by providing career growth and educational opportunities, as well as cross-functional experience across departments and divisions throughout the WCB. We are committed to helping our people advance their careers within our organization and nurture a diverse, talented and innovative workforce.94 2021 WCB ANNUAL REPORTFive Year TargetsIn the five-year period covered by this plan, the WCB is focused on the following milestones:investment in staff professional development and training* Average per employee per year.$650*2021 WCB ANNUAL REPORT 952022–2026 Budgeted and Projected Financial StatementsThe pro-forma financial statements for the years 2022-2026 present the financial outcomes of the strategic and operational plans of the WCB. Note, the WCB will implement IFRS 17, Insurance Contracts, a new accounting standard effective January 1, 2023. The financial impacts of this standard have not been finalized and are therefore not included in these projected statements. The impacts may be material.The average assessment rate is maintained at $0.95 throughout the Five Year Plan. Surplus distributions are planned to continue through 2023. The goal is to reduce the funding ratio toward the 130 per cent policy target.WCB revenues include:Premium revenue: this amount represents a combination of estimated annual assessable payroll and the average assessment rate, using reasonable assumptions for economic and inflationary growth. The average assessment rate used in the Five Year Plan is $0.95.Investment revenue: this amount represents a return that is consistent with the WCB’s investment portfolio profile. A steady annual rate of return of 5.75 per cent is used throughout the Plan, as it is not possible to predict investment markets. Actual results in this area will vary and fluctuations can be significant.WCB expenses include:Claim costs: this amount assumes that the number of injuries will decrease in 2022 from 2021 COVID levels, remain relatively flat in 2023 with slight decreases annually thereafter offset by a reasonable assumption for cost inflation. Fluctuations in claim costs can occur if there is an increase to injury rates, very expensive claims, a change in the mix of old and new claims, or a change in average claim duration. Operating expenses: this amount represents salaries, employee benefits, infrastructure, the Appeal Commission, the Research and Workplace Innovation Program, SAFE Work Manitoba and administrative costs. An investment in a digital transformation of the WCB system has been added, spread over multiple years beginning in 2023 with an estimated cost of $70 million. This amount is a placeholder with a full cost-benefit analysis to be performed in 2022. This amount will be adjusted in future years based on updated information.COVID-19: The impacts of COVID-19 continue to be unknown. In general, the assumptions have been modified to reflect minimal COVID-19 impacts in 2022 onward, however outcomes may be different. 96 2021 WCB ANNUAL REPORTPro Forma Statement of Financial Position (unaudited)As at December 31(000’s)2021 Actual2022 Budget2023 Projection2024 Projection2025 Projection2026 ProjectionAssets$2,118,749$2,065,744 $2,043,962 $2,077,357 $2,113,279 $2,159,211 Liabilities1,408,893 1,443,6641,477,9621,513,5611,552,0261,595,403Funded position709,856 622,080 566,000 563,796 561,253 563,808 $2,118,749 $2,065,744 $2,043,962 $2,077,357 $2,113,279 $2,159,211 Funding ratio150.4%143.1%138.3%137.2%136.2%135.3%Pro Forma Statement of Operations and Other Comprehensive Income (unaudited)For the years ending December 31(000’s)2021 Actual2022 Budget2023 Projection2024 Projection2025 Projection2026 ProjectionProjected average assessment rate$0.95$0.95$0.95$0.95$0.95$0.95Premium revenue$221,179 $230,668 $237,390 $244,352 $249,700 $255,321 Investment income165,374 91,675 91,400 92,771 94,307 96,128Total Revenue386,553 322,343 328,790 337,123 344,007 351,449Claim costs incurred201,438 198,413 196,476 200,060 205,257 210,530Operating expenses107,062 116,821 127,716 139,267 141,293 138,364Total expenses308,500 315,234 324,192 339,327 346,550 348,894Operating surplus (loss) 78,053 7,109 4,598 (2,204) (2,543) 2,555Surplus distribution(71,375) (94,885) (60,678) - - - Net surplus (deficit)6,678 (87,776) (56,080) (2,204) (2,543) 2,555Other comprehensive income65,376 - - - - - Total comprehensive income (loss)$72,054$(87,776)$(56,080)$(2,204)$(2,543)$2,5552021 WCB ANNUAL REPORT 97Workers Compensation Board of Manitoba333 Broadway, Winnipeg, MB R3C 4W3wcb@wcb.mb.ca 204-954-4321 • 1-855-954-4321wcb.mb.ca98 2021 WCB ANNUAL REPORTNext >