| Yearly Incident Costs | Profit Margin | |||
|---|---|---|---|---|
| 1% | 3% | 4% | 5% | |
| $1,000 | 100,000 | 33,000 | 25,000 | 20,000 |
| $5,000 | 500,000 | 167,000 | 125,000 | 100,000 |
| $10,000 | 1,000,000 | 333,000 | 250,000 | 200,000 |
| $25,000 | 2,500,000 | 833,000 | 625,000 | 500,000 |
| $50,000 | 5,000,000 | 1,667,000 | 1,250,000 | 1,000,000 |
| $100,000 | 10,000,000 | 3,333,000 | 2,500,000 | 2,000,000 |
It's not "Rocket Science." It is either a Profit Center or a Loss.
Even if you forget about Worker's Comp costs, the employee's pain and suffering, and all of the other factors that contribute to costs, dealing with OSHA, etc.,
Accidents cost money.
Let's talk today about reviewing your Safety Program.