ThinkAbout Risk

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YOU ARE ONLY A THOUGHT AWAY FROM TURNING A RISK INTO AN OPPORTUNITY

Many Risk Management tools, processes and/or procedures mainly focus on WHAT has to be done, and HOW it shall be done. There is nothing wrong with this approach in most instances if you wish to maintain the status quo. However, should you really wish to improve the situation, additional attention needs to be placed on WHY it has to be done, and WHO is it going to affect.

Although Risk Management covers a wide variety of issues, to put a little context to the above statement we outline the following scenario.

The following Table is an extract from a report provided by a Workers Compensation Insurer: Note 1

Year

91/92

92/93

93/94

94/95

95/96

96/97

97/98

98/99

99/00

00/01

Injuries

38,163

35,925

39,307

42,505

42,648

44,654

43,982

41,739

39,531

39,995

Table 1

Total Number of Injuries

 

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The cost of injuries to the Insurer in 91/92 was $304 million

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The cost of injuries to the Insurer in 00/01 was $804 million

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The average cost per claim in 91/92 was $8,264

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The average cost per claim in 00/01 was $20,109, a 143% increase

To further dissect the above figures the following Tables break out Back Injuries & Manual Handling Injuries from the same report:

Year

91/92

92/93

93/94

94/95

95/96

96/97

97/98

98/99

99/00

00/01

Injuries

11,330

10,766

11,991

12,986

13,121

13,720

13,268

12,439

11,466

12,033

Table 2

Back Injuries

Year

91/92

92/93

93/94

94/95

95/96

96/97

97/98

98/99

99/00

00/01

Injuries

11,244

10,902

12,643

13,895

14,076

15,031

14,736

14,112

13,388

13,831

Table 3

Manual Handling Injuries

During the period 1991 – 2001 the Internet became of age allowing us to share information around the planet, computers became commonplace, laws and standards are tougher and more detailed than they were in the past. With the amount of information freely available to the workplace, and with the amount of effort put in by Governments and Organisations around the world the above figures should be trending significantly better than shown above.

In summary: the existing Laws, Standards and Procedures (WHAT & HOW) do not appear to have motivated people to implement them as intended, as indicated by the above tables.  Our strategy is put more of the people element into the process (WHY & WHO). People make processes work, processes on their own have little impact.

Our ThinkAbout Risk Assessment program has been prepared specifically to engage employees at a more meaningful level producing deliverables that will have greater acceptance in the workplace, greater acceptance in the workplace will lead to improved results.

How much does it cost?

Depending on the size of the organisation, but generally considerably less than the average cost of a single compensation claim as noted above Note 2

Alternative arrangements

We are so confident that our program can make a difference to your organisation; in some instances we will negotiate alternative arrangements for payment (or part thereof) based on improved performance within your organisation Note 3

Performance Guarantee

At the conclusion of our initial ThinkAbout Risk Assessment workshop you are not satisfied that our program will make a difference to your organisation you will only be invoiced our out-of-pocket expenses. Note 4

 

 Note 1

These figures are indicative of many other States, Regions or Territories Throughout Australia, New Zealand, the USA and Canada. Please email us if you would like a full copy of the report the above data is based on

Note 2

A detailed fixed pricing structure will be provided upon request on a case-by-case basis.

Note 3

Alternative arrangements will be negotiated on a case-by-case basis.

Note 4

Conditions apply to this – see our page on General Trading terms.