July 9, 2012

Safety Cost Benefit Calculator

Try our free Safety Cost Benefit Calculator and find out if those safety initiatives are worth it.
The Cost Benefit Calculator measures the dollar value of implementing a chosen safety measure in an effort to offset the losses due to that safety measure. For example, your agency experiences several eye injuries each year. So, you want employees to wear safety glasses. You have 130 eye injury claims a year and they average $375.00 per claim. Are the safety glasses worth it? You will need a few numbers to accurately complete the analysis, this includes the number of claims and average cost per claim along with the cost for the safety measure. Find out below:

Safety Measure to Evaluate

Life Span (in years) of Safety Measure

Cost Per Safety Measure

Number of Safety Measures Needed

Percentage of Claims Safety Measure Will Prevent

Current # of Claims Per Year

Average Cost of Claim

What is your profit margin