The Positive Impacts of ISN’s Health & Safety Performance Indicators Series
In the business world, companies competing for the same revenue-generating resources must know where they stand in relation to their competitors. This requires a targeted strategy for improving performance systematically and logically based on measurable data, or benchmarks. Within the sub-set of business that contracts non-core operations out to third-party workers, health and safety statistics, when consistently and accurately measured and evaluated, can greatly impact a company’s competitive edge. Safety incidents cost money in terms of lost productivity, regulatory fines, possible repair to operations and a host of other variables. These key performance indicators (KPIs) are critical to operational success, allowing for quick analysis and action to address any potential gaps in safety procedures.
The importance of data comparison as a means of driving improvement is the motivation behind ISN’s annual Health & Safety Performance Indicators series, which benchmarks companies’ health and safety statistics against those of their peers, helping them easily recognize areas of improvement. In three separate reports released earlier this year, ISN Hiring Clients in capital-intensive sectors were anonymously ranked according to health and safety statistics such as total recordable incident rate (TRIR), days away from work due to accident or injury (DART) and fatality rates.
Two of the publications in the series compare ISNetworld Hiring Clients within the same industry to one another, one for the United States and one for Canadian companies. These Hiring Client Peer Group Benchmarking Reports provide these companies with a reliable and relevant set of third party information provided by ISN.
The third component to the series is ISN’s Contractor Peer Group Benchmarking reports, which compare the safety statistics of contractors used by ISNetworld Hiring Clients to annual data released by the Bureau of Labor Statistics (BLS). Available in a comprehensive format as well as broken down by industry, these reports allow Hiring Clients to benchmark their KPIs against peers both within ISNetworld and in their industries as a whole.
In order to get a representative and fair sample of data, ISN applied the following four specific criteria for inclusion:
1. The company must have been a member of ISNetworld for a year or longer
2. All sites within one set of comparison must belong to the same industry group
3. The Hiring Client company must be connected with at least 75 ISNetworld member contractors
4. At least eight Hiring Client companies must be members of a peer group for an industry to qualify for inclusion
165 unique ISNetworld clients are included in the reports, representing nearly 23,000 contractors and almost seven billion work hours. Each industry ranking is divided into quartiles for a more convenient way of seeing on a broader scale where specific Hiring Clients sit in relation to their peers.
To be effective, benchmarking must provide a clear understanding of what KPIs are being measured and the methodology being used. The U.S. Health & Safety Performance Indicators series measures statistics such as:
– Total Recordable Incident Rate (TRIR)
– Total Nonfatal Recordable Incident Rate (Nonfatal TRIR)
– Days Away, Restricted or Job Transfer Rate (DART)
– Fatality Rate per 100,000 Employees
– Total Number of Fatalities
– Incident Severity (In Days)
Because of slightly different regulatory and reporting requirements, the Canadian version is broken down slightly differently into the following four categories:
– Total Recordable Frequency (TRF)
– Lost Time Frequency (LTF)
– Fatality Rate per 100,000 Employees
– Injury and Illness Severity (In Days)
These numbers are reported both to ISNetworld and to United States and Canadian regulatory agencies on a regular basis, allowing for consistent repetition of performance measurement. In addition to being broken down by industry, the reports also offer a high-level, macro view of the compiled data for all the industries represented.
By providing these benchmarking metrics to our member Hiring Clients, we continue to positively impact the working environments of our subscribers. Moreover, by raising the standards of safety within ISNetworld, we can facilitate the improvement of safe contractor management practices throughout the business world as other companies strive to stay competitive with ISNetworld Hiring Clients.