One of the direct benefits of creating
and maintaining a safety program for your organization is to not only
reduce the loss of life and injuries, but to also increase your profit
margins. Studies have proven that if employees are well-trained in
safety, they work more efficiently. This increases productivity in
addition to keeping your liability costs low. To estimate the impact of
accidents on your organization's profit and sales, fill out the
interactive form below.
Step
1: Direct Cost
To calculate the direct cost, enter the total value of the
insurance claim for any accident (consists of medical costs and
indemnity payments).
Note: DO NOT ADD COMMAS. |
Direct
Cost
|
| Step
2: Press 'Calculate' to determine your Indirect Cost
and Total Cost of Accident |
|
| Direct
Cost
|
X |
Cost
Multiplier*
|
= |
Indirect
Cost
|
| Direct
Cost
|
+ |
Indirect
Cost
|
= |
Total
Cost of Accident
|
| * - the Cost Multiplier
is determined by the Direct Cost. The lower the direct cost, the
higher the multiplier. |
Step
3: Profit Margin
To calculate your profit margin, enter your company's Total
Profits and Total Sales.
Note: DO NOT ADD COMMAS. |
Total
Profits
|
Total
Sales
|
| Step
4: Press 'Calculate' to determine your Profit Margin
and Sales Required to Pay for Accident |
|
Total
Profits $
Total
Sales $ |
|
= |
Profit
Margin
|
Total
Cost of Accident $
Profit
Margin $ |
|
= |
Sales
Required to Pay for Accident
|
|
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