TRIR and your bottom line

2020-03-16

When times get tough, it’s more important than ever to ensure you are maximizing your resources. One way to do this is to view PPE as a strategic initiative - one that is critical to the well-being of the company - rather than an expense.

That's because a safe and healthy workforce can lead to a better Total Recordable Incident Report (TRIR), which makes a significant impact on the bottom line.

The impact of TRIR

Used by the Occupational Safety and Health Organization (OSHA) as a method to evaluate and quantify health and safety, TRIR is essentially a snapshot of a company's safety performance over a one-year time period by calculating the number of recordable incidents per 100 full-time workers.

Poor TRIR scores can trigger OSHA scrutiny in the form of inspections and fines, not to mention the loss of business once customers, vendors, and employees see these high injury rates. TRIR scores also influence corporate insurance premiums, meaning an injury today can have a negative financial impact for years to come.

But the main costs come from the direct and indirect costs of a worker getting hurt on the job, which can oftentimes be difficult to measure.

So how does a company make up the lost income related to few winning bids, higher insurance premiums, increased turnover rate, and the direct costs related to the injury? Either they don’t recover those losses, or the sales increases that would’ve been used to pad the annual net revenue are only used to offset the losses.

Either way, an unsafe work environment is bad for the bottom line, and it never makes fiscal sense to choose ineffective or inadequate PPE.

HexArmor® can help

When you start thinking about PPE as an investment in safety and not just an extra department expense, you’ll start understanding and seeing the benefits first-hand. The TRIR should, at the very least, provide safety managers with an additional reason to keep workers safe on the job - and invest in proper PPE.

Need help determining the proper PPE for you? Take the first step to help keep your people safe with an industrial trial program with HexArmor®. We’ll work with you to recommend and implement high-performance PPE solutions. If you’re not ready for that, we’ve got other resources to help you understand hand PPE, hand safety standards, glove materials, and more.

Let us know if you need help or if you're ready to start a trial - our Solution Specialists are ready to work with you. Call 1-877-MY ARMOR or send us a message.

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