Find out how much accidents cost your business!
The following section will demonstrate how to calculate your company’s incidents over a one year period.
An incident is defined as an injury that involves:
- Medical Treatment
- Light Duty, etc.
- Lost work time and/or
- Fatalities
To calculate incident rate:
- First multiply your total incidents by 200,000 (i.e. 40 x 200,000=8,000,000)
- Divide this number by the total number of labor hours worked at your facility(s)
(i.e., 500 employees x 40 hours per week x 50 weeks per year = 1,000,000 and then divide 8,000,000 by 1,000,000; result = 8.
This is your recordable rate. To get the industry average, find your SIC code and “click” the following link www.osha.gov/pls/imis/sicsearch.html . Once you find your industry average, measure the recordables number to the average. If it is higher, begin focusing on safety in your facility(s). If it is lower, excellent job, but there is always room for improvement. The Accident cost chart shows the annual accident costs and based on profit margins the sales needed to cover those costs.
Tips on Improving Safety Programs for Small or Large businesses TOSSS has developed a Safety Process Survey that can, when followed, decrease your total Workers’ Compensation cost up to 30 percent in 18 months. This Process will also enhance employee productivity, efficiency, quality of work and increase employee morale. The Safety Process Survey is a systematic way of measuring and managing safety in the work place that will also predict OSHA Total Recordable Injury Rates for your organization.
The Workers’ Compensation claims and TRIR charts show actual results that were achieved and could be your potential results when our Safety process is followed.
The Safety Process survey has a proven track record in multiple industries and is currently being implemented worldwide. Total implementation of the Safety Process will drastically reduce compensation cost and Incidence Rates. The Safety Process Survey measures and evaluates nine critical areas of safety management for effectiveness and creates a road map for continuous improvements; The nine critical areas of focus are:
- Management – Employee Expectations and Involvement
- Goal Setting – Action Planning – Performance Tracking
- Government Standards Implementation
- Occupational Health
- Ergonomics
- Planning for Safety Conditions
- Site Training Systems
- Safety Practices
- Behavior Observation Systems – Behavior Feedback
Safety Reference Websites:
Keeping up with the current events, rules and regulations in the safety world does not need to be an overwhelming task. The TOSSS team of safety and OSHA professionals is always available to help you with safety questions. Here are a few resources that offer great safety information