Avetta Partners with the National Safety Council to Introduce the Safety Maturity Index?, a Revolutionary Step Forward in Contractor Safety

BY GlobeNewswire | ECONOMIC | 09/17/24 09:00 AM EDT

LEHI, Utah and HOUSTON, Sept. 17, 2024 (GLOBE NEWSWIRE) -- Avetta?, the leading provider of supply chain risk management (SCRM) software, has announced a partnership with the National Safety Council (NSC) to launch the Safety Maturity Index? (SMI). The new index offers a systems-based approach to target health and safety weaknesses within the supply chain to help avoid serious injuries and fatalities (SIFs).

Traditional contractor safety models have lacked leading indicators and actionable insights needed for organizations to make a transformational change in their contractor safety results.

Avetta and NSC combined 15 years of NSC research, data from Avetta?s global contractor network, and insights from forward-thinking companies like Avetta clients, Entergy and Cargill, to design the SMI. The SMI goes beyond traditional metrics by identifying, assessing, and surfacing the maturity of the contractor's organizational use of their safety management systems to ensure a safer working environment. The index further focuses on risk management, enabling a comprehensive and accurate safety evaluation to verify a contractor?s Safety Management System (SMS).

?Our partnership represents joint dedication to innovation in the contractor safety space,? said Don Dama, Executive Vice President of Sales and Marketing of the National Safety Council. ?The Council?s research combined with Avetta?s experience and ability to scale this solution represents a significant step forward in our industry. By offering a holistic approach to monitor contractors? safety and maturity, we empower the industry to deploy more effective systems and safeguards to reduce SIFs in the future.?

Grounded in recognized industry standards such as ISO 45001 and ANSI Z-10, SMI scores are weighted based on contractor findings, evidence and verification methods, and are calculated using a 0-100 grading scale across five primary categories:

  • Safety Leadership & Structure: The evaluation of leadership practices, incentives, and structures designed to produce positive safety outcomes.
  • Hazard Identification & Controls: The ability for an organization and its workers to properly identify potential SIF hazards and deploy the proper controls and safeguards for these hazards.
  • Worker Training & Competency: The ability for an organization to identify worker roles, training needs, and verify competency based on role and work type.
  • Incident Management & Response: An organization?s systems, methods, and practices used to investigate, learn from, and respond to incidents.
  • Improvements & Communications: The communication tools and processes used to distribute new safety improvements and knowledge across managers and employees.

The SMI is built on statistically relevant questions across these categories that have been proven over time to be leading indicators, allowing organizations to leverage actionable insights to manage risk, prevent accidents, and continually improve safety.

Research has demonstrated the presence or absence of SMS procedures and practices is the strongest leading indicator for significant improvements in an organization?s safety performance.

?For decades, contractor prequalification has focused on historical performance and policy audits,? said Taylor Allis, CPO of Avetta. ?This standard needs to evolve as it's been proven that past performance isn?t a reliable indicator of future safety. By partnering with NSC, we?re shifting contractor safety interactions from compliance-based ones to improvement-focused discussions, charting a new course in contractor safety.?

The SMI will be available to select North American clients in early 2025. Avetta and NSC will also provide access to a membership package that includes safety improvement tools and resources to support contractors in the Avetta network. To learn more about the new SMI and available offerings, visit https://avetta.com/safety-maturity.

About Avetta
The Avetta SaaS platform helps clients?manage supply chain risk?and their suppliers to become more qualified for jobs. For the hiring clients in our network, we offer the world?s largest supply chain risk management network to manage supplier safety, sustainability, worker competency and performance. We perform contractor prequalification and worker competency management across major industries, all over the globe, including construction, energy, facilities, high tech, manufacturing, mining and telecom.

About the National Safety Council
The National Safety Council is America?s leading nonprofit safety advocate ? and has been for 110 years. As a mission-based organization, we work to eliminate the leading causes of preventable death and injury, focusing our efforts on the workplace and roadways. We create a culture of safety to not only keep people safer at work, but also beyond the workplace so they can live their fullest lives.

Media Contact
avetta@hoffman.com

Image: https://www.globenewswire.com/newsroom/ti?nf=OTIzMTc1MyM2NDgxNzc5IzIyMDM1MjE=
Image: https://ml.globenewswire.com/media/NDliYWFkYjMtMzhiZC00YzAzLThhZWItOGRkODM1NzI2YjkxLTEyMTUwNzQ=/tiny/Avetta.png

Image: Primary Logo

Source: Avetta

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

fir_news_article