When we attempt to track costing related to workplace incidents there are a few techniques and tools that can be used.
Currently there are paid applications that can track costs as part of their investigative process and, there are some free ones.
Occupational Safety and Health Administration (OSHA) – has created the Estimated Costs of Occupational Injuries and Illnesses and Estimated Impact on a Company’s Profitability Worksheet
WorkSafeBC – has created the Workplace Incident Cost Calculator
- Annual Incident Costs of $25,000
- At a 5% profit Margin
- $500,000 of income must be generated to cover the costs of the incident
Go ahead and click through to the free resources and play around with them a bit then attempt using them during your next incident investigation, quarterly incident summary report or annual review meeting.
Contact us for Health and Safety and Incident support.