Developing an effective loss control plan in any construction or contracting company starts with a critical topic in mind — safety.
No matter if your employees are in the office or on-site, they need to know what the safety policies are and who bears responsibility for what. When all team members are well-voiced in your safety plan, you’ll prevent employee accidents and protect your business from multiple types of financial loss.
Here are some tips on developing an effective loss prevention plan for your construction company.
Before diving into a new or revised safety strategy, review what accidents your company has experienced over the last year — look at accident reports, insurance loss history reports, and internal accident reports to see what you should focus on in a new safety plan. This analysis will help you identify potential hazards that you can develop new procedures for, like specific employee injury accidents (including the type of injury), property damage accidents, and near-miss accidents. If you feel your reports aren’t as in-depth as they should be, change your procedures to ensure that all incident reports are fully documented, logged, and saved correctly.
An effective loss prevention policy for any construction company should center around a comprehensive safety plan. Accidents can result in financial disaster for your company, so the best course of action is to prevent them. After you analyze your accident trends (above), you can hit the ground running on a safety plan. When you’re writing a new safety plan, consider:
A safety plan is essential in protecting both your employees and your business — make it a top priority for your organization to make sure your policies and procedures are consistently up to date.
The most important part of a safety plan is making sure employees follow it. The best way to do that is through proper training. Make training mandatory for all new employees, and make sure current employees are always up-to-date on policy changes or new procedures. Consider quarterly training seminars for your entire company to reinforce your safety policies. Types of training to consider include:
You and your management should establish a strategy to ensure accident prevention is communicated company-wide. Any important updates — safety-related or not — should be communicated with the entire company in a newsletter, email, or meeting. If there’s a change to a current policy, the changes should be printed and handed out to each employee. Consider having employees read and return a signed copy stating they read and understand the new policy.
Your employees should always feel safe — whether they’re on the job or need to talk to management about a problem. When you foster an environment where employees can speak freely about when they don’t feel safe or need to report wrongdoing, your business will thrive. Additionally, empower your employees to take charge of a situation or opportunity. Ensure the right people are in the correct position to ensure your business is safe and operational at all times. Some tips on fostering this type of culture include:
Construction insurances will be required for every project you work on, and insurance coverage will vary depending on the type of project it is. In addition to a basic Businessowners' Policy, here are some of the most popular insurance coverage types for retail stores to consider: