Serious Non-fatal Injuries Are Costing Employers $61B Per Year
The Liberty Mutual Safety Index is an invaluable tool for employers, risk managers, and safety professionals to help prevent serious non-fatal injuries
How much will a “little” injury cost you? According to the 2017 Liberty Mutual Safety Index, serious non-fatal injuries in the workplace cost employers $60 Billion in direct workers’ compensation costs. That’s Billion with a capital B! With that being said, the Safety Index is a good starting point to evaluating your overall safety plan.
Each year, the Research Institute produces the Liberty Mutual Safety Index to rank the leading causes of serious non-fatal work-related injuries and their associated costs to employers. The Safety Index gathers information from three sources: Liberty Mutual Insurance claims, the US Bureau of Labor Statistics, and the National Academy of Social Insurance.
Top Three Categories for Work-Related Injuries according to the Index
“Overexertion involving outside sources” – which include injuries related to lifting, pulling, pushing, holding, carrying, and throwing objects. These common types injuries cost employers nearly $14 Billion and account for 23% of the overall national burdern.
“Falls on the same level” – These injuries cost employer nearly $12 Billion and account for 17.7% of the national burden.
The third-place slot belonged to “Falls to a lower level.” This category of injuries cost employers $5.5 Billion and account for 9.2% of all serious non-fatal work-related injuries.
If you’re serious about your site’s safety, then you know that the Index is one of the best ways to adjust your current safety plans. The Index is an invaluable tool for employers, risk managers, and safety professionals to keep their fingers on the pulse of the most common workplace hazards. By understanding where the most risk lies, safety professionals and employers can assess and take measures to avoid injury, keep their employees working, and helping to keep costs low.
You can download a copy of the full report from Liberty Mutual by clicking the following link.