Saving on Safety
Now, I argue that the risk associated with safety and the related legal costs are almost always underestimated by contractors/firms/management. The occurrences happen more frequently than people believe and are more severe than thought. Many companies use historical data - which is the exact wrong data to use. That's because the historical data is almost always skewed. For example, let's assume the standard number days between accidents is, say, 180 days. For a company that hasn't had an accident for 200 days, they would assume that they have little to no risk of an accident. The better analysis is that they're overdue.
Seven Ways to Save on Safety
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Thanks. We really appreciate the advice.