Estimation of the Tail Behavior of Mutual Fund Returns: An EVT-based Approach
Behavior basedsafety by_texas mutual
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Transcript of Behavior basedsafety by_texas mutual
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BEHAVIOR-BASED SAFETYBehavior-Based Safety is a process that helps employees identify and choose a safe behavior over an unsafe one.
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BASIC BEHAVIOR PRINCIPLESSafety in the workplace is a combination of three measurable components:
1. The Person2. Their Environment3. Their Behavior
Only when these three elements are combined can workplace accidents be eliminated.
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BASIC BEHAVIOR PRINCIPLESThe person component consists of the employees’:
• Physical Capabilities• Experience• Training
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BASIC BEHAVIOR PRINCIPLESThe work environment represents:
• Engineering Controls• Equipment• Job Task• Work Culture
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BASIC BEHAVIOR PRINCIPLESThe final, most often overlooked component is behavior—what the person does on the job.
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THE BEHAVIOR-BASED SAFETY PROCESSBehavior-based safety is based on four key components:
• A behavioral observation and feedback process
• A formal review of observation data
• Improvement goals• Reinforcement for
improvement and goal attainment
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BEHAVIORAL OBSERVATION AND FEEDBACKThis is one of the most important components of the process. Observations provide direct, measurable information on employees’ safe work practices.
• Employees are observed performing their routine task. The observer documents both safe and unsafe behaviors.
• The employee is then provided positive feedback on the safe behaviors and non-threatening feedback on the unsafe behaviors. They are also provided with suggestions on correcting the unsafe behaviors.
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FORMAL REVIEW OF OBSERVATION DATAThe data is then analyzed to determine the employee’s (or department’s) improvement in safe behaviors. It can be looked at as an overall percentage.
Example: If there were 20 items on the checklist and the worker performed 17 of them safely, then he would get a score of 85% safe.
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FORMAL REVIEW OF OBSERVATION DATAThe improvement between observations could be graphed and displayed for employees to view. When the graphs shows improvement, it provides positive reinforcing feedback to employees.
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IMPROVEMENT GOALSSetting improvement goals increases the effectiveness of feedback and the success of the behavior-based safety process.
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IMPROVEMENT GOALSThese goals can take different forms, such as:
1. Percent Safe Goals2. Process Goals3. Implementation Goals
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REINFORCEMENT FOR IMPROVEMENT AND GOAL ATTAINMENTManagement must provide immediate, positive feedback to reinforce safe behavior. Rewards can be an effective means of reinforcing goal attainment.
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RESULTS• Increased Efficiency• Increased Productivity• Increased Morale• Increased Profitability