It is the process of making loss more predictable and therefore avoidable that is at the heart of LAMP™.
WrightWay assists its clients to understand the underlying principles which contribute to unforeseen loss by examining the following areas.
• Actual damages to physical assets to repair or replace.
• Increase in expenses or reduction of revenue due to loss.
• Cost of investigation, legal fees, fines and awarded judgments.
• Loss of worker productivity and adverse publicity and public opinion.
• Higher insurance premiums.
• Payments made due to the death, disability or resignation of employees.
Because LAMP™ is based on a formula. The cost of positive risk avoidance measures are offset against the potential cost of exposure to unforeseen loss that an organisation might experience.
The WrightWay LAMP™ training course helps delegates employ analytical techniques and apply them to the LAMP™ process, thereby enabling clients to access the significant savings afforded by using this analytical tool.
The UK Health and Safety Executive estimate the average cost of a lost time accident involving employee absence of work for three or more days is estimated to be around £50,000.
These costs come directly off the organisation’s ‘bottom line’ and can turn profit into loss very quickly. Using LAMP™ will assist an organisation in its efforts to avoid, or at least reduce its loss cost exposure.
The WrightWay LAMP™ course is not a ‘one size fits all’ course but forms part of a total package designed to meet the unique requirements of individual companies and to help them enjoy the results typically achieved by our clients.