Are your safety management systems recording the right workplace safety data to reduce your premium?
The current WorkSafe Victoria medium segment intervention strategy is reported to be delivering excellent results.
One participating business recently confirmed “that savings achieved from reduced insurance premiums was equivalent to the profits on producing and selling an additional $16m of product.”
The medium segment strategy encourages these businesses to integrate safety into their business management systems, to ensure they practice prevention rather than reaction and gain commitment from owners and directors to the process.
In our 8 part series of articles for Dynamic Business magazine we discuss the main components of the "Seven Pillars of Safety", the safety management systems approach that is being taken with medium enterprises.
The third pillar, ‘Recording and Reporting’, seeks to ensure leaders have their fingers on the pulse of organisational safety by recording and reporting claims and premium data. This is about providing senior management, owners and directors with quantifiable feedback allowing them to initiate safety management systems interventions to occur in a timely fashion.
So how does your workplace measure up? Click here to find out more
