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As 2016 approaches, many organizations turn their focus to a budget for safety. Let’s take a look at financial impact analysis over time.

Financial Impact Analysis:

Workers compensation overpayments

Direct and indirect injury costs

Company expense impact

Profit impact

Key Performance Indicators – Balanced Scorecard Metrics:

Leading and lagging process and outcome metrics

Safety Perception Survey:

Benchmarks and measures the improvement in the level of employee safety behaviors.

Quality Satisfaction Index:

Improves quality of process outputs by identifying and removing the causes of defects (errors) and minimizing variability in the system functions

INCREASED SAFETY = INCREASED PROFITS

Claim totals the Work Comp Carrier paid: $27,813

Conservative Multiplier to calculated indirect costs: 4.0

Total Indirect Costs: $111,252

 

BOTTOM LINE PROFITS 

Eliminating these costs would increase your bottom line profits by $111,252 or

Assuming a 5% profit margin, the sales equivalent of $2,225,040*

*Based on an interior systems manufacturing company with sales of $45,000,000 and 250 employees.

Three Sixty Safety will help you measure safety key performance indicators (KPIs). Measuring KPIs accurately and reliably is a key to predicting future performance, improvement goals and cost.

Our Goal: Everyone goes home safe…Every Day!

586.778.9900   info@threesixtysafety.com