New food & beverage study uncovers safety best practices

Using safety performance to reduce your total cost of risk

With companies increasingly focused on enhancing safety and culture while optimizing costs and performance, our latest study of more than 250 of your food and beverage industry peers highlights 12 key elements critical to reducing your total cost of risk through safety management improvements.

12 Key study insights

Strains are the leading cause of loss, representing 20% of total claims and 28% of lost time claims.

While direct workers’ compensation costs are significant, indirect costs can be many multiples of them and permeate your entire income statement.

_{Benchmarking metrics powered by Marsh Blue[i] Claims Analytics} ^[1]

A low priority

Only 7.4% of respondents selected ergonomics as a top 1, 2, or 3 priority. This is alarming, as even without picking up a claims run, most safety and risk professionals know that ergonomic-related claims account for a high percentage of food and beverage companies' injury claim costs. Now safety and risk professionals also must contend with more remote working situations, and many do not have an aligned ergonomics program in place.

As the world navigates through economic challenges, the way forward is to focus on your people, who will in turn take care of your business. Finding qualified employees is hard. Keeping them healthy and productive with rigorous job demands, while at the same time achieving your total cost of risk objectives and lowering your indirect costs, can be daunting at times. By leveraging intelligence on safety practices in the industry, you can confidently implement strategies that help you meet your company's risk management goals.

^[1] _{Our Blue[i] Claims Analytics helps clients benchmark past performance and quantify future savings potential. The easy-to-use platform aggregates claims data from all of a client's carriers and TPAs, providing a dashboard that visualizes the largest opportunities for cost savings in real time. You can then work with our specialists to develop and implement custom claims optimization and cost reduction action plans.}

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Article

New food & beverage study uncovers safety best practices

Using safety performance to reduce your total cost of risk

12 Key study insights

Workers’ compensation costs are the tip of the iceberg.

$8,264

$36,452

20%

7%

Strains are the leading cause of loss, representing 20% of total claims and 28% of lost time claims.

Spotlight on ergonomics

A low priority

What we see

Best practices

Related insights

Retailers, food and beverage companies using alternative solutions to manage risk

3 major supply chain risks retail, food and beverage companies must navigate

Responding to demand and realizing growth in a complex world

Four actions to mitigate rising product recall risks

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New food & beverage study uncovers safety best practices

Using safety performance to reduce your total cost of risk

12 Key study insights

Workers’ compensation costs are the tip of the iceberg.

$8,264

$36,452

20%

7%

Strains are the leading cause of loss, representing 20% of total claims and 28% of lost time claims.

Spotlight on ergonomics

A low priority

What we see

Best practices

Take the next step toward building a culture of safety

Related insights

Retailers, food and beverage companies using alternative solutions to manage risk

3 major supply chain risks retail, food and beverage companies must navigate

Responding to demand and realizing growth in a complex world

Four actions to mitigate rising product recall risks