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67% of companies have reduced Workers Compensation Premium Rates by an average of 41%.

5 Feb 2021 9:10 AM | Anonymous

A busy final quarter of 2020 has been reflected in the latest FSC Accreditation Scheme Snapshot report. The snapshot, which provides up to date, enhanced data analysis on a quarterly basis, is part of the OFSC’s increased focus on data analysis and a trend in the construction industry for data analysis and digitalising processes.

“Seeing the number of accredited companies continue to increase, despite the many challenges of last year, shows that our industry is still thriving, and still committed to meeting the high benchmark the Scheme sets,” said Federal Safety Commissioner David Denney. “As the total value of Scheme projects over time gets close to $150 billion, it’s a good reminder of the scale of the Australian building and construction industry, and how many workers are affected by the health and safety practices that we emphasise.”

The scheme has seen an improvement in onsite safety and reductions in fatalities and workers compensation premium rates. Here are some of the stats.

  • The Scheme lost time injury frequency rate (LTIFR) for 2019 was 1.43, continuing the downward trend over the past five years.
  • The number of fatalities on Scheme accredited sites is trending down over the past four years.
  • After 6 years of accreditation:
    • 67% of companies have reduced Workers Compensation Premium Rates by an average of 41%.
    • 67% of companies have reduced their Lost Time Injury Frequency Rates by an average of 89%.

For additional information please email the office of the FSC by clicking the link below.

OFSC

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