On 29 January 2014 Australia’s Fairfax newspapers published an article called “Safety performances at Australia’s top companies is serious business” written by Adele Ferguson. The article is based on an analysis by Citi Research of the safety performance of companies listed in Australia’s ASX100 share index. Citi Research (Citi) has kindly provided SafetyAtWorkBlog with a copy of this report developed for its fund manager and superfund clients. It is a terrific reference document providing a useful insight to the OHS performance of prominent Australian corporations. It cannot be definitive but we know of nothing else like it in Australia.
In the Fairfax article Ferguson wrote:
“While safety is a complex issue largely due to the fact that safety records are difficult to measure and difficult to compare across companies and industries, it is an important area to explore. For starters, it is a good proxy for the way a company deals with staff and manages risk more generally.”
Safety does not have to be complex but the measurement of safety performance can be as, even though there is a (dreadfully outdated) Australian Standard for measuring OHS performance, companies tweak the existing measures and the principal measurement, the Lost Time Injury Frequency Rate (LTIFR), has been found to be a flawed indicator. LTIFR is tolerated as a measurement simply because a better alternative has not been developed or widely accepted.
The Citi Research report lists LTIFRs for most of the 117 companies but it balances this with almost as many Total Recordable Injury Frequency Rates (TRIFR). More…