ISN®, the global leader in contractor and supplier management services, partnered with a leading international management consulting firm to perform an actuarial study and announced the new research revealing that contractors subscribed to ISN’s platform, ISNetworld, consistently outperform industry standards when evaluated on various safety metrics.
The new study, “Evolving Contractor Safety Through the Use of ISN Data,” researched NAICS code work types across multiple industries ranging from construction to facility management and found that more than 85% of ISN contractors significantly outperform their industry peers’ Total Recordable Incident Rates (TRIR), averaging 50% or less of the TRIR of their industry grouping’s average rate. Additionally, of 26 NAICS classified “work types”, ISN-subscribed contractors outperform industry peers in 100% of those categories. This is clear evidence that ISNetworld subscribed contractors are held to higher standards and perform safer work when compared to industry peers. Hiring organizations can increase the impact of performance beyond the jobsite by identifying the safest contractors from a network of more than 75,000 who have evolved their safety cultures to achieve higher compliance measures.
“These findings are evidence that the ISNetworld platform helps improve the safety of contractors and the productivity of worksites for Hiring Clients,” said Marie Anderson, Executive Vice President of Business Development at ISN. “We continue to explore new tools and service offerings to enhance our best-in-class contractor and supplier management system to support organizations globally in creating safer and more sustainable work environments.”
ISNetworld includes data-driven insights and tools that help companies mitigate risks associated with global operations such as supply chain continuity, regulatory compliance, safety, environmental, social and governance (ESG) challenges along with training and program conformance. By participating in ISNetworld, contractors exercise better governance over their controls, are encouraged to improve their safety programs and comply with ISN Hiring Clients’ higher standards.
Furthermore, proprietary ISN information allows for more accurate predictions of incident and severity rates than other commonly used data points. The third-party analysis also demonstrated the ability to predict future incident and severity rates using leading indicators captured in ISNetworld.
ISN is the global leader in contractor and supplier information management, with more than 20 years of experience connecting over 800 Hiring Clients, in capital-intensive industries, with more than 75,000 active contractors and suppliers to promote safety, health and sustainability in the workplace. ISN’s platform, ISNetworld, includes data-driven insights and tools that help companies mitigate risks associated with global operations such as supply chain continuity, regulatory compliance, environmental, social and governance (ESG) challenges, training and program conformance.
ISN has 14 offices around the globe which provide award-winning support and training for its customers in more than 85 countries. ISN takes pride in leading worldwide efforts to improve the efficiency and effectiveness of contractor management systems and in serving as a world-class forum for sharing industry best practices, benchmarking performance, providing data insights among its members and helping decision makers, including board members, ensure contractor and supplier risk is assessed and monitored. For more information, visit http://www.isn.com.