It’s the time of year, when we start to review our performance from the past year. We’ll start with a review of our safety programs and the impact that it has on the company as a whole.
Let’s start by looking at our safety rates. These are national standards that are used to determine how Thompson Electric compares to other electrical firms across the country. The two that get utilized the most are:
EMR – Experience Modification Rate – What is EMR? It is a number used by insurance companies to gauge both past cost of injuries and future chances of risk. An EMR of 1.0 is considered the industry average and Thompson Electric’s rate is .71 for 2013, below the national average.
RFR – Recordable Frequency Rate – What is RFR? This is calculated by an average of the number of injuries per 100 employees working 2000 hours per year. The national average is 3.1 injuries per year and Thompson Electric’s rate is 1.7, well below the national average.
How do these ratings impact Thompson Electric? First and foremost, the safety culture within Thompson Electric is for the safety of our employees. Keeping everybody safe is Thompson Electric’s top priority. Second, it shows the insurance companies that we’re committed to keeping our employees safe, by providing an environment that encourages a strong safety culture. Third, it shows our clients that we are committed to maintaining a safe job-site. Fourth, by being below the national averages on both the EMR and RFR, we receive better insurance rates, which helps give Thompson Electric a competitive advantage.
To sum up our safety for 2013, we had a very safe year, which is a positive reflection of everybody working for Thompson Electric and we will continue to work hard to ensure that this trend is maintained into 2014.