What is Incidence Rate?
Incidence rate is a quantified measure of the level of incidents, injuries, illnesses across an organization or an industry within a specific period. The incidents defined under this term are work-related and are measured over a specified time period.
Incidence rate is used to study incidents that induce a negative growth within the organization or severely hamper employee morale. Examples can be a high attrition rate, which causes uncertainty among the remaining employees, as well as the leaving of experienced and long-serving members of the senior management. Such incidents cause a serious negative impact on the employee morale, and the bottom line of the organizations gets seriously affected.
Comprehensive study of the incidence rate can help mitigate these problems by analysing them and identifying the problem area.