The Dollars and Sense of Safety

Employer Impact › › › › ›

Financial Impact: A low X-Mod lowers premiums, providing a financial reward for strong safety programs and effective claims management. Fairness: It differentiates risk, so employers with fewer claims are rewarded, while those with more claims bear a greater share of the cost.

Competitive Advantage: A favorable X-Mod can help secure contracts, particularly in industries like construction, by demonstrating a strong safety record and offering more competitive bids. Cost Predictability: Based on a three-year rolling average, it moderates the impact of a single bad year, leading to more stable and predictable premium costs.

Safety Tool: Analyzing the X-Mod helps employers identify trends in claims, allowing them to pinpoint issues and improve safety protocols.

Employee Impact › › ›

Safer workplace: A good X-Mod reflects a company’s strong commitment to safety, leading to fewer hazards and injuries.

Improved morale: When employees feel secure and valued, their job satisfaction and morale increase. Better compensation and benefits: Premium savings can be reinvested into the company, potentially funding better wages, health benefits, or other employee programs.

Better compensation and benefits: Premium savings can be reinvested into the company, potentially funding better wages, health benefits, or other employee programs.

Enhanced job security: A company with a good X-Mod is more competitive, leading to more business and greater financial stability. Attraction and retention of talent: A strong safety record makes a company more appealing to prospective employees and helps retain current skilled workers.

Did You Know? – Supervisors are instrumental in setting the safety tone on a jobsite.

Key supervisor safety responsibilities include:

• Leading by example: Always wear proper personal protective equipment (PPE) and never violate safety rules.
• Performing daily inspections: Check equipment and walkways and correct unsafe conditions immediately.
• Holding crew briefings: Ensuring training and competency: Confirm that every worker has the necessary training and knowledge to perform their job safely. Lead morning meetings to review safety procedures and discuss potential hazards, such as fall risks and material handling.
• Enforcing safety rules: Correct unsafe behavior on the spot to ensure all team members comply with safety standards. Responding quickly to incidents: Investigate accidents promptly to determine the cause and prevent recurrence.