4, which means there were 2. Type an opening parenthesis (. The lost time injury frequency rate (LTIFR) is calculated using two pieces of essential information: the LTI within a given time frame, and the amount of hours worked. If you have more than one NAICS code (NC), you will need to calculate each NC separately. 91 89 321 Jan to Jun 2014 1. Calculating the frequency rate gives health and safety executives or business owners a key metric to track over time and compare within their particular industry. Next steps. However, the level of risk involved across different occupations varies greatly. You can specify the start and end time, regular time hours, overtime charges, as well as weekends. Lost time injury frequency rate calculation and standard. For example, to include the column Sales from the table Table1, type (Table1 [Sales]). The total recordable injury frequency rate (TRIFR), or total recordable injury rate, is the number of fatalities, lost time injuries, alternate work, and other injuries. 0 or lower. Knowing this, you can simply subtract the start time (“Clock In”) from the end time (“Clock Out”) to find the time worked. Lost time injury frequency rates (LTIFR) Lost time injury frequency rates are one measure that can help you compare part of the work health and safety performance of our organisation again. Select the range of cells, and then type a. Disabling Injury Frequency Rate (DIFR) Disabling Injury Severity Rate (DISR) Koos van der Merwe. You would use this formula: =RATE (E2,E3,E4)*12. Categories of individuals that are included in the reported number of. The first payment is optional and corresponds to a cost or payment that occurs at the beginning of the investment. Automatic: the default option that tells Excel to refresh the calculation any time information in the formula's data range is edited. 90 42 210So an LTIFR of 8, would mean that 8 lost time injuries take place every million hours worked. Select an empty cell. Formula: MH = N * W. Step 1: Select an empty cell. If we look at Team B and D's ratios, had there been only 1 decimal place to display, 1. Click here to start a free software trial and see how easy our incident management software is to use. 21 days were lost from work due to work related injuries or illnesses. 89; with a factor of 1,000, the LTIFR is. Divide this result by the total revenue to calculate the net profit margin in Excel. 00 0. Number of LTIs Number of reportable injuries LTIFR SAFETY PERFORMANCE: LAGGING INDICATORS (LTI AND REPORTABLE INJURIES) 1. 18 2. 76 2. LTIFR has been a Key Performance Indicator (KPI) in Health and Safety for a long time and is a Lag Indicator2. To do that, I’ll use a formula that takes the cash flow value, multiples it by the discount rate (I’ll use 5%) raised to a negative power (the year). The method for calculating the LTIFR is: the number of lost time injuries in an accounting period, divided by the total number of hours worked in the same period, multiplied by one million. gov. Project management KPI templates can be helpful, but it’s most important for KPIs to be S. For reference, LTIF is calculated as (Number of injuries)*1000000/ (Worked hours) The calculation consists of two relevant tables. The easy part of TRIFR calculations, like all safety KPIs ( see more here) is the measurement itself. Salary Sheet is a ready-to-use template in Excel, Google Sheets, OpenOffice Calc, and Apple Numbers that helps you easily calculate the salary. The LTIFR is the average number of lost-time injuries in each industry in Australia in. =IF (B2>80%,”A”,IF (B2>70%,”B”,IF (B2>60%,”C”,”D”))) The logic that we have defined in this case is as below. This will need to be by asset or system type and not all failures. Closing date. A TRIR calculation is made by taking the number of OSHA recordable incidents your company had in a year, multiplying it by 200,000 (the number of hours that 100 employees, working a 40-hour week, would log in 50 weeks), then dividing that number by the total number of hours worked by your employees in that year. We calculate the MIRR found in the previous example with the MIRR as its actual definition. The formula for calculating lost time injury frequency rate is the number of lost time injuries multiplied by 1,000,000, divided by the employee total hours worked. An LTIFR does not factor in the severity of an injury and it also. Suppose you have the dataset as shown below and you want to calculate the number of hours between the two-time values. Man-hour is the average amount of work that one person can do in an hour. How can I calculate my company’s LTIFR? The universal measure of Lost Time Injury Frequency Rate is generally calculated by finding the number of lost time injuries per million hours worked over a certain period (often a financial year). This will be our percentage change in the data set. accident frequency rate calculation excel. Click to Download ( Scope 3 Calculation Guidance, 2. ” Regular NPV formula: =NPV(discount rate, series of cash flows) This formula assumes that all cash flows received are spread over equal time periods, whether years, quarters, months, or otherwise. The new principal is P 1 =P 0 +i 1 +A. Manual: turns off auto-calculations in Excel so you'll have to calculate manually. An LTIFR of 7, for example, means that 7 lost time injuries have occurred per 1 million hours worked. 20 de abril de 2023. Check dependent formulas, and then recalculate all formulas in all open workbooks. Most of the Employers like to count monthly and or Quarterly Incident Rates (QIR) as well, and this can conveniently be done by utilizing incident/accident and hours-worked figures for mere the specially month or quarter. Step 3 – To get the percentage of the entire data variance, we have to drag the formula applied to cell D2. Type an equal sign = and then type a function. Use the Excel Formula Coach to figure out a monthly loan payment. The only thing left here is to calculate the total of all these. The DATEDIF function below calculates the age of a person. 17 in 2016. As a result, Excel built the formula: =SUM (Table1 [@ [Qtr 1]: [Qtr 2]]). Premium = insurable earnings x premium rate ÷ 100. Custom Lost Time Injury Calculator calculator, built using CALCONIC_. On the other end of the spectrum, some companies had a perfect 0 TRIFR, while WorleyParsons. But let’s dim the lights, cue the orchestra, and take a moment to truly appreciate the art of it. Divide your result by 12 to calculate the average monthly figure for the oldest 12-month period. 3), Qantas (24. However, this should not be the only method used to calculate a company’s internal ratings; companies. But first, we will calculate the ROI value. Standar perhitungan statistik versi OSHA (Occupational Safety Health Administration) dengan angka 200. The math formula is the same as above: You need ending values, beginning values, and a length measured in years. Get Catalog | Get Free Samples. Effectively managing the staffing schedule and putting on casuals or part timers can help reduce workload and reduce your LTIFR. From the drop-down, select Calculated Field. “Automatic” is the default option. This number tells you the number of lost time injuries per 100 worker years (equivalent to 2000 hours. Key Performance Indicators (KPIs) change as objectives are met, or management focus shifts. Forms. PPF account in SBI, HDFC, PNB, BOB, ICICI or any other authorised bank. The estimated number of people with an over-3-day absence injury at any time. Fri, 2023-02-17 23:59. To do so, select the columns or cells where you intend to store time clock entries and click the "Home" tab on the Excel ribbon menu. #How to #calculate #TRIR #LTIR #LTISR #SafeWorkingHours #TIR by #maaz / #askmaazThis short video will give you guidelines on calculation of safety incident r. Printing and scanning is no longer the best way to manage documents. Reporting Boundariesaccident frequency rate calculation excel. On the Excel Options dialog box, click Formulas in the menu on the left. Just click on the arrow for Insert > Insert Table Columns to the Left. Instructions can be found at: the latter, open Excel, go to the Home section, and select "More Templates. Risk assessments are a leading indicator, because conducting more risk assessments today should result in less. Obviously you need to use the above LTIFR calculation formula to calculate LTIFR properly, but the tool you use for calculating your lost time injury rate is up to you - and can have a big impact on the amount of time and effort required to get these safety metrics into a safety scorecard or other useful format. The Lost Time Injury Frequency Rate (LTIFR), then, refers to the number of Lost Time Injuries that occurred within a given accounting period, relative to the total. 4, which means there. To show it using numbers. Optional extra payments. The latter counts only fatalities and lost time injuries, not the other types of injuries that are reflected in the TRIFR. Type. N - number of employees. LTISR means lost time incident severity rate = (days lost because of lost time injuries) x 1,000,000 / worked hours)In 2020, the TRIR at the Caylloma Mine was 5. 50 1. LTIFR is the number of lost-time injuries (LTI) occurring in a workplace per 1 million hours worked within a given period. Put Together a Simple Yet Effective Scorecard with a Free Download Sample in DOC or PDF Format. Download Salary Sheet Excel Template. 3. In this function, "B2" refers to the date of birth, "TODAY ()" finds today's date, and "Y" indicates that you wish to see the age in years. The tricky part lies in getting accurate. accident frequency rate calculation excel accident frequency rate calculation excel Your culture should focus on employee education and company-wide safety awareness, to truly cultivate a dedication and commitment to safety. To calculate your LTIFR, simply plug those numbers into your formula: (6 x 1,000,000) / 2,500,000 to get a LTIFR = 2. 7) and Star Entertainment Group (22. Lost time incidents are accidents that occur when a worker sustains a lost time injury (LTI) that results in time off from work, or loss of productive work (absenteeism or delays). Note: Because it’s powered by Tiller, this is the only automated spreadsheet template on the list – it. Every product has a Wholesale Cost. In this article. LTIFR = 2. ) LTIF Example Number of LTI cases = 2 Number. However, simply use the RRI function in Excel to calculate the compound annual growth rate (CAGR) of an investment over a period of years. Enter the following expression into G7 (the commission. To do that, I’ll use a formula that takes the cash flow value, multiples it by the discount rate (I’ll use 5%) raised to a negative power (the year). We explain how to add the GST formula in excel below: Step 1: Tabulate the original price, discount, freight charges, and tax rate in the excel sheet. LTIFR will typically be calculated for a specific workplace or project, but it can also be expanded to measure safety in specific regions or industries as well. 1. LTIFR: Lost Time Injury Frequency Rate: the number of lost time injuries that occurred during the reporting period. The formula to use will be:Kali ini mimin akan membahas terkait istilah dalam perhitungan statistik K3. The Lost time injury frequency rate (LTIFR) calculator is a data tool maintained by Safe Work Australia that can help you compare one aspect of the work health and safety performance of your organisation against industry benchmarks. Español. . 3 NPS calculation methods. An LTIFR of 7, for example, shows that 7 lost time injuries occur on. xml ¢ ( ÌWËnÛ0 ¼ è? ¼ ´M‹Âr I{l $ý†[„)’ Çþû®h9 ÛzPhr‘dK;3;¤vµ³ëM¥²58/ . 2019 2020If you need help calculating your company's DART rate, please call (720) 547-5102. Rolling LTIFR Calculator. Shift+F9. The LTIFR is the average. Fixed or variable rate. WorkCover Queensland. 65. Explain : Lost Time Injury Frequency Rate (LTIFR)When assessing safety performance, one of the most important KPIs to track is lost time injury frequency rat. Scribd is the world's largest social reading and publishing site. 33 (LTIFR) 1. xlsx), PDF File (. 0000175. To get YOY figures for YTD and FYTD, the best way to go about this is to calculate the previous year’s YTD and FYTD figures as well so that we can employ the simple mathematical equation of dividing the difference between current and previous years’ figures by the previous year figure. 4. Meanwhile, the lost-time injury frequency rate (LTIFR) fell on average for the 41 miners reporting this figure to 1. Here, the details are in order in the corresponding cells in the formula. 000219178)1825 = $2,983. 4. With their LTIFR calculated, this company can compare it to the rate for the construction industry as a whole. your claims experience (the cost of any injury claims against your business) your industry. As you can see, there are just three parts of the LTIFR formula, two of which need to be reconciled on your end, and then the 1,000,000 figure which. Most companies choose to calculate LTIFR per 1 million man hours worked. Enter N = Number of Recordable Injuries and/or Illnesses in One Year EH = Total Number of Hours Worked by all Employees in One Year 200,000 = Equivalent of 100 Full-Time Employees Working 40 Hour Weeks. The software and spreadsheets below will make your job much easier, allowing you to shorten the time used for endless calculations of cables, voltage drop, various selections of circuit breakers, capacitors, cable size, and so on. R. Then press ENTER. 4 lost time injuries for every one million man hours worked. LTIFR – by Biannual Period Period Scheme project LTIFR Non-Scheme projects LTIFR Scheme LTIs Non-Scheme LTIs Jul to Dec 2013 2. 6. These steps help you figure out which numbers to include in the formula, then how to solve the equation: 1. DCF Formula in Excel. The formula to calculate an LTIFR is: Lost time injuries in financial year Hours worked in financial yearLTIF Calculator LTIF Formula Number of LTI cases x 1 000 000 / Quantity of manhours worked (Include staff and contractors. First, we have IncidentReports, which contains the incidents. See full list on ecompliance. Type an opening parenthesis (. 000219178)1825 = $2,983. 00. Now calculate the total duration in months. accident frequency rate calculation excel. The next rows shows that at the end of the first year, the interest is calculated a i 1 =rate*P 0. However, clarity of reporting could be improved. Use the circled format for cell K12, K13 and K14. 2 as well. T. Lance is VP of Marketing at Sitemate. This calculator will work for both old and new tax slab rate which were released in 2023. As you see, with daily compounding interest, the future value of the same investment is a bit higher than with monthly compounding. TRIR calculation will follow thus: (20 x 200,000)/100,000 = 40. We'll carry forward the last formula where we added text to the full weeks that passed between the dates in C3 and D3. 1. October 2, 2013. ÈE>% hn„ÔË‚ü}ø5ùN2 ˜ L Ù‚'×ó f [ >Ãhí R†` Pêy ó¹± ñθŠ üé–Ô2¾bK —Óé åF Ða j 2ŸÝ‚=© ýÜàß;% R“ìf÷MU f’œ J×Z LÌb!9 ß*„νuÀ„/ B¥rë$2º{ ó„ åt |?Ò&« #£0_Jë?aê' ê;§³: ·> ×î. F. A lost time injury is something that results time lost from work. 34 tons. Definition. Luckily, that's an easy task. 00 25. Explore our current key statistics on work health and safety and workers' compensation. Now, we would simply apply the IRR function to calculate the CAGR, as shown below: The CAGR we get is: Let’s do reverse engineering to check if the resulting value is correct or not. From 1971 to 2001, it was know as Lost Workday Rate . LTIFR = (14 / 800,000) x 200,000 = 3. So, if you have 8 lost time injuries and 3 million hours worked, your LTIFR is 2. A lost time injury is an injury sustained on the job by worker that results in the loss of productive work time. Lost Time Case Rate. 75 0. ([Number of lost time injuries in the reporting period] x 1,000,000) / (Total hours worked in the reporting period) RIFR: Reportable Injury Frequency RatePK !HYÙ - € [Content_Types]. Syntax. LTIFR = 2. Jadi dengan kata lain adalah angka kecelakaan per 100 pekerja. LTIFR = 2. Summary. We have used the NPV formula and we have ignored the value in cell C2, as this is the initial outflow. Excel will now calculate the CAGR in Excel and display the result. Select the template and click "Create" to use it. These data are collected and reported annually through the Survey of Occupational Injuries and Illnesses (SOII) and the Census of Fatal Occupational Injuries (CFOI). The LTIFR would be: 20. Please visit the website and fill out the short online. 4 lost time injuries for every one million man-hours worked. The number of work-related injuries per 100 full-time workers during a one year period. 50 2. The original calculation was (no. As you can see, there are just three parts of the LTIFR formula, two of which need to be reconciled on your end, and then the 1,000,000 figure which. 68 77 291 Jan to Jun 2015 2. LTIFR. The LWR formula is defined as the total number of workdays lost multiplied by 200,000, divided by the total number of hours worked by all employees within a given period. Enter this formula: =NETWORKDAYS(A2,B2) * 8 into a blank cell where you want to put the result, and then press Enter key, and you will get a date format cell as following screenshot shown: In case there will always be minimum 12 months data then below will work: =SUM (OFFSET (B6,,MATCH (TRUE,INDEX (ISBLANK (B6:W6),),0)-2,,-12)) In case data could be less than 12 months, say only 5 months (and other cells are blank), then below formula will account for this and return SUM of only 5 months: The resulting calculation would be: (5 recorded 'injuries' x 1,000,000) / 200,000 hours = 25 injuries per million hours worked. 3. What is now known is that for every 100 employees, 35. Calculation Method of Lost Time Injury Frequency Rate, LTIFR, Total Injury Frequency Rate, TIFR, Lost Time Injury Severity Rate (LTISR), First Aid, Medical T. T. We use named ranges for the input cells. The Lost Time Injury Frequency Rate is the principal measure of safety performance in many companies in Australia. Then, the number is multiplied by 200,000 to make it easier to use and interpret. That is obviously unrealistic, especially for big companies with many employees. Here is the TRIR calculation formula set forth by OSHA: TRIR = Number of Incidents x 200,000 / total number of hours worked in a year. It is the average time taken between the two failures. 70 0. First, insert a column Chart for the selected range of data below. LTIFR will typically be calculated for a specific workplace or project, but. 67 25. Key Success Factors (KSFs) only change if there is a fundamental shift in business objectives. To get previous years’ YTD and FYTD figures, we need. Compare the amount of time lost to injuries at your workplace to the latest industry benchmarks using Safe Work Australia’s updated Lost Time Injury Frequency Rate (LTIFR) calculator. Write in cell C2 and use asterisk symbol (*) to multiply “=A2*4“. A lost-time injury (LTI) is something that results in a fatality, permanent disability, or time lost from work. 68 77 291 Jan to Jun 2015 2. The DATEDIF function has three arguments. 2. The easy part of TRIFR calculations, like all safety KPIs ( see more here) is the measurement itself. The tricky part lies in getting accurate. With their LTIFR calculated, this company can compare it to the rate for the construction industry as a whole. To keep a formula from calculating when certain cells are blank, you can use the IF function with a suitable logical test. The table below shows how the calculations work each compound period. by | Apr 2, 2023 | has the spark died quiz buzzfeed | alfred ryder cause of death. For more information on how to use workplace safety indicators like LTIFR to your advantage, check out our guide, The Guide to Advanced Safety Analytics and Reporting, promotes worker engagement and participation in safety, How to Leverage Your EHS Data to Improve Safety Outcomes. 4. 86 – go on, grab your calculator and try for yourself. 1. Enter the date of birth into cell A2. With their LTIFR calculated, this company can compare it to the rate for the construction industry as a whole. SR is the total number of lost workdays per year × 200000 work hrs/number of workers in a job. LTIFR = (Number of LTIs) / (Number of hours worked) x 1,000,000. 35 0. Find what you're looking for. Make your KPIs clear and focused. Now we can combine the two functions to determine the student's final grade based on their scores and the weights of each score. 4), Transurban Group (1. Step 1 – First, calculate the variance from method 3rd. Let's create the formula for straight-line depreciation in cell C8 (do this on the first tab in the Excel workbook if you are following along). The LTIIR uses the same LTI data as the LTIFR calculation, but rather than using hours as a standardizing factor for the rate, the standardizing factor becomes a number of employees. 7 Lost Time Injury Frequency Rate LTIFR. The easy part of TRIFR calculations, like all safety KPIs ( see more here) is the measurement itself. Use the Excel Formula Coach to figure out a monthly loan payment. LTIFR calculation formula. 4. LTIFR Calculator To calculate the LTIFR for your workplace simply input the number of injuries sustained over a specific period of time and then input the total number of hours. March 2023. com The formula to calculate TCIR/TRIR is: For many safety rates,. The formula generally used to calculate CAGR is = ( (End Value/Start Value)^ (1/Periods) -1. 253 0. But first, we will calculate the ROI value. Or use the AutoSum feature to quickly total a series of values without entering them manually in a formula. We have to calculate the Selling Prices of these products for different Markup Percentages (10%, 15%, 20%, 25%). Use Excel as your calculator. MTBF is The Sum of (start of downtime - start uf uptime) all divided by no of failures. 1. 21 (rounded to two decimal places) lost time injuries occurring per one million working hours. You can use PV with either periodic, constant payments (such as a mortgage or other loan), or a future value that's your investment goal. Simple excel based formulas and functions are used in creating this. To disable the automatic calculation feature, open Excel and click the FILE tab. laurenzside sims 4 fnaf cc » sundered switch physical » accident frequency rate calculation excel. LTIFR calculation = (Number of lost time injuries x 1,000,000) / Total hours worked. For that use the following formula in cell D7. When benchmarking lagging indicators we use the 200,000 rate as it is the closest measure to manhours for our organisation per year. Total wattage of fixtures: Total wattage of fixtures = Number of lamps x each lamp’s watt. 4), Transurban Group (1. An injury is considered an LTI only when the injured worker: Is unable to perform regular job duties. 2. 3) Metcash, Woolworths, Qantas Airways and Wesfarmers have consistently recorded some of the highest LTIFR rates over the past few years, while Wesfarmers has. Type an equal sign = and then type a function. txt) or read online for free. The Group’s APMs are defined in note 33 (non-GAAP measures) and reconciled to GAAP measures in notes 1 (segmental analysis) and 33 to the consolidated financial statements. 21 (rounded to two decimal places) lost zeite injuries occurring per only million working hours. With this online calculator you can calculate man-hours. Fixed Yearly and Fixed Monthly modes of investments. The formula for how to calculate TRIR is simple: the number of incidents, multiplied by 200,000, then divided by the total number of hours worked in a year. Download FREE Excel Timesheet Calculator Template. Total man-hours for the firm are 3,000,000 hours. Note: If the function returns a #NUM! error,. R4 Loss time injury frequency rate (LTI-rate ): Number of injuries per 1 million work-ing hours; CAIR Checklist for Assessing Institutional ResilienceCalculating the frequency rate gives health and safety executives or business owners a key metric to track over time and compare within their particular industry. LTIFR = (14 / 800,000) = 0. This yields the same result: 56. Most companies and projects differentiate and measure MTI's and FAI's or first aid injuries one another, as the difference in severity warrants a different lens. Document Title Barloworld LTIFR Approach Version 2014/0 4 Author Christopher Whitaker Date issued 2014/0 5/12 Reviewed & Approved by Risk and Sustainability Committee Date approved 2019/05/14 Disclosure Public (Barloworld website) Date last revised 20 20 /12 /1 6 3 Annexure A 1. Generally, a good TRIR safety rate would be around 3. [1] 3. Begitu juga untuk. The Excel formula would be F = -FV (0. The number 200,000 is used to represent 100 employees working 2,000 hours per year, as the rate that results from this formula is designed to represent the number of lost. The LTIFR calculation is the same as the LTIR formula, but the 200,000 figure is replaced with 1,000,000 in this mathematical calculation. A scoreboard displaying you current LTIFR rate is a very visual method to drive the importance of this number amongst your team. The Lost Time Injury Fatality Rate calculator can now be seen on the Data website. 93 3. The website delivers national work health and safety and workers’ compensation data in an intuitive, user-friendly way. As a reminder, the formula to calculate the DSCR is as follows: Net Operating Income / Total Debt Service. Since, the values of cash flows starts with B1 and goes upto B7 cell. It instructs Excel to recalculate any dependent. From this info, first, enter all these things into the Excel worksheet to conduct the ROI calculation. Deprecation Value = (10,000 - 1,000) / 10 = 900. LTIFR calculation formula. WebNow, to calculate the LTIIR (Lost Time Injury Incidence Rate) which is. Step 2: Create headers for Multiplication, Summation, Subtraction, and Square Root in row one. 2, and 1. FR (Frequency Rate) adalah banyaknya jumlah kecelakaan hari hilangdalam satu juta jam kerja selama periode tertentu. Angka 200. It’s calculated by dividing the number of recordable injuries by the total number of employees over one year. MTBF Formula in Excel (With Excel Template) MTBF Formula Calculator; MTBF Formula. LTIFR or the lost time injury frequency rate is a safety measure which refers to the number of lost time injuries occurring per 1 million hours worked. To. The cost is listed in cell C2 (50,000); salvage is listed in cell C3 (10,000); and life, for this formula, is the life in periods of time. 25. Total wattage of fixtures = 2 × 32 = 64 Watt. Step 1: To calculate the CAGR, we add the following formula in Cell C2, Step 2: Press Enter. A series of cash flows that corresponds to a schedule of payments in dates. PMT(rate, nper, pv, [fv], [type])n = 5 years x 365 days (5*365 =1825) Supply the above numbers into the compound interest formula, and you will get the following result: =$2,000 * (1 + 0. OSHA calculates this number as a rough measure of a company’s safety performance. As you see, with daily compounding interest, the future value of the same investment is a bit higher than with monthly compounding. Here's how: Type the equal symbol (=) in a cell. Injury severity rate or lost time incident severity rate (LTISR) Formula: LTISR = [Total # of lost time]/[Total # of lost time incidents] Description: This calculation provides a measurement for average amount of time lost per injury, which can also be thought of as severity per injury. accident frequency rate calculation excel top shell snail adaptations » expanded powers of the national government » accident frequency rate calculation excel. Free Risk Assessment Template in Excel Format; Risk Intelligence and What to Do About It – A Video; How to Calculate TRIFR, LTIFR and. 4-0. The scorecard templates come in a format that is easy to use. The result with the inputs shown above (45, 2. T = Taxes. 80 1. 00 0. Automatic Except for Data Tables: also tells Excel to recalculate any formulas if the data in the formula's cells changes. is measured by the number of occupational accidents happening within a company in a year and by then calculating the Loss Time Injury Frequency Rate (LTIFR). T: specific, measurable, attainable, relevant, and time-bound. To calculate your premium, multiply your gross insurable earnings by your premium rate and divide by 100. Instead of using a calculator, use Microsoft Excel to do the math! You can enter simple formulas to add, divide, multiply, and subtract two or more numeric values.