Calculate the cost of safety
Values that guide every decision
INJURY MANAGEMENT COSTS
Calculate the cost of Injuries on your business
How many employees do you have?
Enter numbers only, no commas, e.g. 1000
What is your WorkCover Industry Code (WIC) rate?
Click here to find your industry estimation. Drop down to select WIC rate.
What is your average salary per employee?
Australian industry average is $90,000. Enter numbers only, no commas or $, e.g. 90000
What % of your gross revenue is your net profit?
Australian Industry Average is 4.6%. Enter numbers only, no %, e.g. 4.6
Scroll down to see your results.
Your Current Injury Management Costs
RESULTS
Number of employees:
Average Remuneration:
Industry Premium Rate:
Average Net Profit:
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Inputs
Impacts
Serious Injuries:
Minor Injuries:
Lost Time Days:
Other Absences:
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Revenue the business must earn to mitigate the impact on profit:
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Costs
Premium:
Replacement Labour:
Other Direct Costs:
Indirect Costs:
Total Costs of Injuries:
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What would a 20% improvement in your safety performance achieve?
Customer examples
PROJECT HIGHLIGHTS & INCREMENTAL WINS
Average for 1000 Employees
Serious Injuries:
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Minor Injuries:
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Lost Time Days:
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Other Absences:
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Costs
Premium:
Replacement Labour:
Other Direct Costs:
Indirect Costs:
Total Costs of Injuries:
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New Results
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New Results
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20% Savings
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20% Savings
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Impact on Required Profit:
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New Results
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20% Savings
SafetySuite's Hazard Identification Module in a Utility customer led to 63% reduction in serious injuries
63% Reduction
SafetySuite's financial accountability initiative in a transport customer led to 58% reduction in serious injuries
58% Reduction
Assumptions used to build the calculator
The true cost of poor safety practices within your organisation is much higher than you might think
The true cost of safety is far more than just your insurance premium. For every serious claim you will also need to consider lost time (median of 7 weeks), make up pay amounts, wages to cover injury and claim managers compensation and much more. To really understand the true cost of safety you need to account for a wide range of potential direct and indirect costs.
Legal fines
Compensation
Payment to replace/repair damaged equipment and property.
Sick pay
Employment cover
Other legal costs
Direct costs
Direct costs of a workplace accident or incident are measurable costs that can be added up by a business following the incident. Some of these include:
Delays of projects and schedules
Equipment damage
Investigation of actions and implementation to correct them
Cost of other government benefits required by injured workers
Loss of skilled workers
Overtime pay
Productivity drops due to team disruption
Temporary workers to cover the injured worker
Training of new team members or temporary team members
Impact on morale
Indirect costs
Indirect costs are the long-term impacts of unsafe workplaces, even before accidents occur. The NSC reports $2.12 in indirect costs for every $1 in direct costs. Some of these include:
