Here at Packaging Specialties, we boast an impressively low Lost Time Injury number, operating with over 3,000 days without a Lost time injury (LTI). Since the passage of the Occupational Safety and Health Act (OSHA) in 1970, the number of work-related injuries and illnesses are down 40% nationally, despite the workforce nearly doubling. These numbers continue to improve each year. In 2017, the national average LTI number was 2.8, which means that for every 100 full-time employees, across all industries, 2.8 people sustained an on-the-job injury resulting in them needing to miss work to recover. During and since that same year, Packing Specialties maintained an LTI of 0.0. Our commitment to providing a safe environment not only benefits our employees, for obvious reasons, but our customers as well. Here’s how.
Low Lost Time Injuries Keep Consumer Costs Down
The National Safety Council estimates the average cost of an LTI to be $39,000 – for one LTI. This cost measures the economic impact of LTIs on a company and includes such things as higher insurance premiums and the cost of the Lost of production during an employee’s absence. The higher the number of Lost Time Injuries (LTIs) any company has, the higher their insurance premiums will be. Any employee’s absence will have a direct impact on the level of production, both in time and quality, for manufactured goods. These costs are often passed on, indirectly, to the consumer. The operating expenses for a company with a higher LTI will naturally be higher, and thus, the products and services they provide will also naturally be more expensive.
Low Lost Time Injuries Attract the Best Employees
When any safety rating for a company is high, the clear indication is the company is operating an unsafe environment. This not only affects the consumer’s bottom line, but it also scares away quality employees who will seek out a better, safer environment in which to work. The best employees will look for the companies with the highest safety standards because this indicates a company culture that puts a high value on the employee. Employees in a company who has a high or increasing LTI may begin looking for work elsewhere, over concerns they are risking their safety – and their family’s wellbeing – continuing to work for a company with slipping safety standards. Once a company has a reputation for not protecting their workers, the Lost to reputation is very difficult to recover from, resulting in less high-quality workers and, by extension, lower quality production.
At Packing Specialties, we value our employees and work to ensure their safety and wellbeing. With more than 3,000 days without an LTI, we are able to offer our customers the highest quality, custom designed containers with a 95+% on-time delivery record. Contact us today to see how we can meet your packaging needs.