The economy might be on the mend, but that doesn't mean unemployment costs are falling. In fact, the opposite is true: In the past decade, those costs have increased about 80%. However, that doesn't mean you need to let those costs devastate your bottom line. For example, did you know that when it comes to your state unemployment insurance tax rates, what you pay will vary based in part on your experience, i.e., how you've managed your UI claims and costs? The question then becomes this: How well are you managing your claims? Today's post will cover six tips for how to increase your unemployment insurance credits.

Use Tracking Software

Unemployment involves many moving parts, and if you're trying to track it all manually, you're sure to miss more than a few things. Utilizing software to track your unemployment claims and costs is both more efficient and more effective, and it means you won't be accumulating costs or paying out claims when you shouldn't.

Audit Your Statements for Credits You've Won

Believe it or not, even when you win a protest, you might not be receiving some or all of the credits that are due from that win. The only way to be sure the costs you're paying and the credits you've received are accurate is if you regularly audit your statements to track them.

Audit Your Statements for Under-reported or Unreported Earnings

This is an unfortunate reality for which employers need to watch. Claimants might even be collecting while working for you. Here again, the only way to be sure everything is being claimed appropriately is to audit and track earnings thoroughly.

Ensure All Your Protests Are Resolved or Follow Up

You shouldn't be leaving your unresolved protests in limbo. When you do, your UI account continues to accumulate charges. Always audit your open protests, and while they're unresolved, send follow up letters every 45 days.

Ensure Claimants Don't Collect When They Shouldn't

This occurs more often than many employers realize. Claimants shouldn't be collecting while on vacation, for example, but if you're not thoroughly up to date on when claimants are collecting, you could be paying out claims when you don't need to be. This is the sort of thing that can stack up pretty quickly.

Improve Your UI Knowledge

By better understanding UI, you can make how you approach the process much more efficient. What's more, it'll improve the efficacy of your protests because you'll have the information you need to properly protest a claim and ensure that claimants who shouldn't receive anything will not receive anything.