Risk Consulting: A Loss Prevention Plan Makes Cents!

Risk Consulting

A Loss Prevention Plan Makes Cents!

Safety strategies have taken on many formats, all with the same goal of reducing accidents and making the workplace safer. Though the strategies may differ, there are commonalities amongst them that influences their effectiveness. If you can implement a few of these practices into your clients’ operations, chances are you’ll lower the risk of incidents and help them save money in the long run. An effective loss prevention plan just makes cents…I mean sense.


In order to reduce the number of accidents, your client must first understand what it is about their operations that are contributing to the accidents. Once an analysis is completed, your client can work on reducing or eliminating those exposures. An easy place to start is to review past injuries, accidents, and inspections. Look for the root causes of those accidents and try to resolve those issues so it doesn’t happen again. Reassess current procedures to tighten areas that expose the company to potential injuries and accidents.

Game Plan

Using a sports analogy, winning is tougher when there isn’t a game plan. Once your client has completed the analysis, it’s time map out a strategy. This strategy is in the form of a Formal Safety Plan. This plan will assign responsibilities to managers and staff. To make it work, the plan should also hold everyone accountable to carry out their responsibilities. This applies to everyone from the very top of the organizational chart to the line staff.


It’s an indisputable fact that communication is the key to success. Managers should meet periodically with each other to discuss how the plan is working and adjust as needed. Management should also meet with staff to discuss safety issues and to educate them on how to work safer. The staff needs to communicate to their Supervisors/Managers unsafe acts and unsafe conditions that exists in the workplace. The more that communication takes place, the better the chance for success.


If work areas and equipment used for the operations are not maintained adequately, breakdown is inevitable, and costs can skyrocket to render them operational again. Documented inspections and maintenance logs are best because one can review records and hold the person in charge responsible should there be a breakdown.

Safety is an intangible that may be hard to justify due to other pressing business priorities that affect companies’ bottom line during this time of COVID-19. But when considering the cost of accidents and incidents, your client’s company cannot afford not to have a loss prevention plan.

These key safety strategies should be a normal part of how your client should manage their organization!

Protect Your Business

Reduce risk injuries and accidents in the workplace with a system or process that’s easy to understand and simple to implement. Our unique approach to loss prevention is called A.I.M. – Analyze, Inform and Motivate.

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