Retail Case Study: Just How Important is An Entrance Solution to ROI?

One of our long-time customers, a national grocery chain, asked us to provide an analysis of whether or not an entrance system can reduce the costs associated with slips and falls and also provide an estimate of the ultimate expense to the organization’s bottom line.

We started this analysis by taking a look at national statistics related to slips and falls to understand the landscape and gleaned the following insights:

  • Slips and falls are the leading cause of worker’s compensation claims
  • Floors and flooring materials contribute directly to more than two million fall injuries each year
  • 85% of worker’s compensation claims are attributed to employees slipping on slick floors
  • 22% of slip and fall incidents resulted in more than 31 days away from work for each injured worker
  • 65% of all lost workdays are due to slip/fall accidents
  • Slips and falls account for over one million hospital emergency room visits

(Source: http://www.nfmt.com/handouts/baltimore/2015/R2_39.pdf)

As we suspected, flooring and floor maintenance play a huge role in the impact of slips and falls to a company. Using this information as a benchmark, we then began an in-depth analysis for our client who expressed the following challenges:

  • Frequent and costly slip and fall claims attributed to insufficient or complete lack of entryway coverage in stores
  • Improved safety overall for consumers and employees
  • Inability to show ROI of implementing a comprehensive entrance solution program across the entire organization

Highlights of the report, using a scenario where a grocery store averages 4.5m customers per week and 3.5 incidents per million people, include:

  • Implementing an entrance system that reduces slips and falls to 2.4 incidents per million people can save $3.0m annually and prevent approximately 250 injuries
  • Over the life of the recommended entrance system (five years in this case), the client would reduce the expense of claims by nearly $13m and prevent almost 1,300 injuries

You can see the numbers are staggering and would impact an organization’s bottom line regardless of its size. To find out more about this analysis, get in touch to request a customized solution for your organization.

As an expert in retail flooring, we can help you identify areas where consumers may perceive shortcomings in your store’s entryway and beyond. Contact us with any questions and we will respond with a custom solution: info@thematworks.com.

About The Matworks

The Matworks is a team of individuals with vast industry knowledge, committed to supporting the core values of its employees and customers. By taking a holistic approach, we are positioned to understand the needs, challenges and risks associated with all flooring solutions.

 

The Matworks offers more than four decades of expertise combined with the dexterity to be entrepreneurial, we are more than a flooring company – we are risk managers, business advisors and partners in your success. Our comprehensive flooring solutions are designed to meet the unique needs of each of our customers.