Employee Safety

Safety is firmly embedded in the Standex Value Creation System within the Operational Excellence Pillar.  We have a common metric in which we measure Total Recordable Incident Rate (TRIR)[1] in every manufacturing site across the globe.  Any recordable incident that occurs in the Company is escalated within 24 hours to the CEO and the VP of Global Operations and Supply Chain.  Every month we have a global safety call to review any recordable injuries and the actions taken to identify root cause and put countermeasures in place to avoid reoccurrence.  This meeting is attended by the CEO, the VP of Global Operations and Supply Chain, Business Unit Leadership, Site Leadership and site EH&S Leaders.  This meeting ensures our countermeasures are taken across all our sites and work areas with similar risk characteristics.  In April of 2021 we implemented a standard practice of Safety Gemba Walks in our sites to proactively identify at-risk behaviors and conditions.  Each month one site from each Business Unit will share the results and subsequent actions identified in their Safety Gemba Walk to further cement safety as an integral part of the Standex Culture.

Through this commitment to safety and the processes implemented, we have, in the past several years, reduced our TRIR to a world class level of 0.39.  The progress during the last six years is shown on the chart below:

[1] OSHA Total reportable safety incident rate is calculated by multiplying the number of recorded incidents by 200,000, and then dividing that by the total number of hours worked.