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The EHS technology market is becoming ever broader and more sophisticated, with vendors able to leverage powerful tools such as predictive analytics and IoT devices within their solutions. Whilst digitization has had a profound impact on corporate EHS functions over the last 10 years, occupational data from the bureau of labor statistics show that serious injury and fatality (SIF) rates have not seen significant reductions in comparison to less serious metrics, such as TRIR. The implication is that previous approaches to tackling the most serious of incidents have not been effective. Not surprisingly, a recent Verdantix survey revealed reducing SIFs was the top priority over the next two years for 56% of EHS leaders (see Verdantix Global Corporate Survey 2022: EHS Budgets, Priorities And Tech Preferences).
EHS leaders are right to make SIFs a top priority. Ultimately, firms fail to fulfil their duty of care when employees incur life-changing or even fatal consequences whilst at work. On top of this, executives face monumental impacts on their business. According to an NSC study, the average financial cost of a workplace fatality for firms in US was $1.3 million. Often more damaging to a business though, are the secondary implications of SIFs. Firstly, SIFs have a profound effect on worker health, especially as now more than ever firms struggle to maintain a cohort of motivated and happy employees. Secondly, serious incidents can be damning to a firm’s reputation. In the current climate, where investors and consumers alike are employing heightened scrutiny into a firm’s ESG credentials, SIF events have the potential to halt a firm’s growth ambitions.
It is a common viewpoint amongst the EHS community that technology will be an underpinning factor in effectively mitigating SIFs in the future. But how can firms adapt their operational process to unlock technology’s potential at preventing the most serious incidents? The upcoming webinar lays out 5 key steps EHS leaders can take to blend technology, process and people to develop a laser focus on addressing SIFs:
It’s all well and good to implement the most nascent technology for safety issues, but firms need to ensure they make the most of the safety data collected. EHS executives have a lot of insight to gain from optimizing current safety reporting systems that can directly lead to corrective and preventative measures.
When carrying out high-risk actions on-site, firms must take every measure to ensure employees operate safely. Technology has the potential to empower employees with vital data insights on the shop floor in order to perform control of work measures accurately.
Proactive action has always existed as a buzzword in safety. The capabilities of modern EHS technology are now allowing firms to analyze leading indicator data metrics in far greater detail. Understanding what factors lead to higher risk exposure allows firms to get ahead of the curve when addressing SIFs
Implementing technology alone will never have the desired effect on safety. Moreover, firms must invest equally in the likes of training and behaviour-based safety to build a more risk-conscious ethos amongst their employees.
Often a number of seconds are all that it takes for a near-miss to manifest into a SiF event. In scenarios where time is of the essence, a plethora of IoT solutions give employees split-second warnings to avoid serious incidents.
Join us March 9th to delve deeper. Register today!