Asheville, NC (CompNewsNetwork) - Understanding your injury incident rate both within the company and relative to similar businesses is a valuable tool to monitor safety and improve profitability. An incident rate shows how many injuries and/or illnesses occurred during a specified period of time. It can be a useful tool for tracking the level of workplace injuries and illness over time, or it can serve as a benchmark for comparing your company with others in your industry or divisions within your company.
The formula uses a common base and time period to allow firms to determine problem areas and progress in preventing work-related injuries and illnesses. In addition, detailed comparisons by industry and size of firm are possible. Employers can compare total recordable injuries and illnesses, as well as cases with days away to evaluate the relative incidence rate of injury and illness.
Teresa A. Long is Director of Agency Services for the Institute of WorkComp Professionals in Asheville, NC, the largest network of Workers' Compensation professionals in the nation. Teresa was claims manager for 14 years for Walt Disney World and later was Vice President of Risk Management for Sarasota, FL-based Unisource Administrators, Inc.
Disclaimer: WorkersCompensation.com publishes independently generated writings from a variety of workers' compensation industry stakeholders. The opinions expressed are solely those of the author and do not necessarily reflect those of WorkersCompensation.com.