The formula to calculate an LTIFR is:
Lost time injuries in financial year / Hours worked in financial year x 1,000,000
Example:
In 2022, a mining company experienced 5 lost time injuries. Three of the injured employees were away from work for two days, one for three days, and one for a whole week.
The company has a workforce of 1,000 employees. During 2022, total hours worked by all employees was 1,950,000 hours.
To calculate the company's LTIFR:
- Number of people who lost time from work for one shift or more: 5
- Total hours worked (for all company employees) during the year: 1,950,000 hours
Use the Formula:
So, the LTIFR for the mining company in 2022 is 2.56. If we were to compare it to an industry standard, let's say the average mining industry rate is 4.2, then the company's LTIFR of 2.56 is below the industry average.
In summary:
- Number of lost time injuries during the year: 5
- Hours worked during the year: 1,950,000
- LTIFR = 2.56