ISN, the global leader in contractor and supplier information management, has released The Orange Book - 2022 Edition. The publication uses data-driven analytics and industry leader insights to share how best-in-class companies are managing the risks associated with outsourcing work to improve workplace safety and mitigate risk.
In this Orange Book edition, ISN analysed companies in the first quartile of its Leaderboard to provide specific benchmarks for excellence in contractor and supplier management. Overall, the ISN Leaderboard consists of nearly 700 hiring client customers that span the globe, representing more than 30 industries. The top performing, or first quartile, hiring clients are those whose contractors maintain the lowest incident and injury rates relative to their peers in the industry. This superior performance places the company in the first quartile on ISN’s Leaderboard and makes them a best-in-class organisation for workplace safety.
“For more than 20 years, our team, in partnership with our customers and industry experts, has responded to the changing landscape of risk and safety performance. Through innovation and data analysis, we have been able to enhance our offering and customers’ processes by focusing on leading indicators and other data that shows a direct correlation to improved performance and compliance,” said Brian Callahan, President and Chief Operating Officer at ISN. “We are often asked not what are others doing, but what are the best doing to create a culture of safety and reduce incident rates. We’re proud to share The Orange Book as a playbook for companies to implement the processes behind the superior performance achieved by our first quartile hiring clients.”
ISN conducted an extensive analysis of the data, processes and results of first quartile companies to identify what makes them stand apart. The analysis found hiring clients who prioritise the following values are more likely to obtain first quartile performance, with 99% also tracking serious injuries and fatalities (SIFs) and, on average, seeing 53% lower contractor incident rates.
Comprehensive risk management strategy
First quartile hiring clients re-evaluate their requirements, use of ISNetworld functionality and contractor risk levels periodically to continuously improve their contractor and supplier management processes. In addition, 79% of first quartile hiring clients manage one or more of the following risks through ISNetworld: cybersecurity, transportation, subcontractor or worker-level. By expanding risk management scopes beyond prime contractors to include subcontractors, and beyond health and safety to include risks such as environmental, social and governance (ESG) concerns, companies can better assess the continuously evolving risk landscape.
Top performing hiring clients are committed to turning data and insights into action; simply having data is not enough. Data integration across enterprise applications is a critical piece of turning data insights into action. In fact, more than 50% of first quartile hiring clients integrate data from ISNetworld with internal programmes to streamline data reporting throughout the enterprise. These data sets provide organisations with a benchmark for measuring, assessing and improving contractor performance over time and enable businesses to make informed decisions.
Cohesive company culture
First quartile hiring clients demonstrate a cohesive company culture centred around the health, safety and sustainability of their workforces. Companies who achieve best-in-class contractor and supplier management keep a pulse on safety culture perceptions to better understand risks and areas for improvement. Company culture should be centred on accountability, communication, reporting and investigation with stakeholders engaged at every level.
Read the article online at: https://www.worldpipelines.com/equipment-and-safety/27042022/isn-releases-the-orange-book-2022-edition/