While going through the ISNetworld® submission process, many questions may cross your mind. For instance, many contractors and supplies wonder, “What is a good ISN® rating for my company?” Fortunately, we have a guide that will break down the answer! Keep reading to learn more.
Getting Familiar With ISNetworld®
The International Suppliers Networld, also known as ISNetworld®, is an online contractor management database. Its primary function is to globally vet and qualify suppliers and contractors. Hiring clients can use the platform to review and assess suppliers and contractors based on their requirements. Depending on aspects like project risk, industry type, and local restrictions and ordinances, clients can select the right people for the job.
Why Your Company Should Get an ISN® Certification
ISNetworld® is a third-party system that not only helps hiring clients, but also helps contractors and suppliers secure jobs. An ISN® certification proves that your company meets a suitable level of standards for hiring clients to enlist your services. Here are some additional reasons why your company should get an ISN® certification:
- Guarantee safety compliance standards. Companies must meet safety compliance standards to be in ISNetworld®. This certification proves that contractors and suppliers follow the best industry safety practices.
- Understand new industry regulations. Audits and frequent company check-ups are essential for being in the ISN® network. To comply with standards, ISNetworld® provides trainings and programs to stay updated on industry regulations.
- Gain exposure to hiring clients. Being a part of the ISN® database allows companies to become visible to an expansive network of hiring clients. From there, clients can hire contractors and suppliers that meet their preferences.
- Be in the running for high-paying jobs. Exposure to hiring clients includes inquiries from large corporations interested in reliable contractors and suppliers. Big corporations are willing to pay top dollar for dependable workers.
What Is an ISN® Rating?
An ISN® rating is a metric that ensures contractors and suppliers have safe work compliance, company reliability, and performance through a transparent vetting process. Different factors determine a contractor and supplier rating, but it’s best to stay updated on industry-specific regulations and follow good work practices. Not only will this keep companies safe, but it will appeal to hiring clients.
How Does an ISN® Rating Effect Your Company?
A company’s ISN® rating can affect their chances of getting jobs, working with certain clients, and their overall industry reputation. An ISN® rating is a “make or break” moment, as hiring clients can vet through the ISNetworld® database to quickly consider (or not consider) a contractor or supplier based on their ratings.
Important Factors That Determine Your ISN® Rating
To understand ISN® rating, you must consider several factors that contribute to a company’s rating. Different factors can account for different percentages of the ratings. To gain a better understanding of these components, check out these important factors that determine your ISN® rating:
- Completed management safety questionnaire. The initial factor that determines your company’s ISN® rating is the completed management safety questionnaire (MSQ). Based on specific regulatory standards, ISNetworld® collects important information about the company. MSQ accounts for 10 to 15 percent of the overall ISN® rating.
- Completed company safety programs. After the MSQ, companies must complete all company safety programs. You must provide accurate documentation detailing safety programs to your hiring client. The Review and Verification Services (RAVS) accounts this portion for 30 to 40 percent of your company’s ISN® rating. Be sure to include national and individual safety standards in your submission.
- OSHA logs. Similar to your RAVS compliance, you must provide OSHA logs that detail past and present workplace injuries. ISNetworld® looks at all OSHA-recorded incidents and tallies them into a total recordable incident rate (TRIR). If you fall under the industry average, your TRIR will not affect your ISN® rating. However, if your company is above average, you may face a failing grade.
- EMR. The Experience Modification Rating (EMR) calculation determines compensation premiums. It reflects current compensation data to highlight any history of workplace injuries in your company’s industry. The EMR accounts for 10 to 15 percent of the ISN® rating.
- Insurance coverage. Your company must provide insurance coverage to prove eligible for an ISN® rating. Insurance coverage prioritizes employee health and safety. If your company insurance fails, ISN® may reject you or give you a failing grade.
- Workplace safety culture. An Indispensable safety culture proves that your company keeps safety regulations and standards at a high priority. Essentially, if your company continuously puts safety at the forefront, then the other factors of the ISN® rating can fall into place.
It’s important to understand that ISNetworld® will search OSHA’s and EPA databases for your company information. If they discover that your company received a federal citation in the last three years, ISNetworld® will deduct points from your overall rating. Please note that federal citations account for 10 to 20 percent of ISNetworld® compliance.
What Is a Good ISN® Rating?
Given the many factors that determine rating, you may wonder what is a good ISN® rating for your company. Generally, “ISNetworld® Compliance” means that your company has a grade of “B” or higher. It proves that the necessary paperwork is complete, and that your company meets specific requirements. Though components vary by industry, some specific numbers can affect the rating. For instance, an EMR of 1.0 or less is good, however, an EMR above 1.0 can hurt your ISN® grade. To keep things concise, a good rating is either an “A” or “B” because it proves ISNetworld® compliance.
Who Can Help Your Company Improve Its ISN® Rating?
With hundreds of questions in the MSQ, and tons of time compiling documents for ISNetworld® submission, your company may struggle to complete everything. Fortunately, you’re not alone! Industrial Compliance and Safety is a top company with insider knowledge that can help you become ISNetworld®-compliant. From the creation of industry-specific safety programs to assistance with questionnaires, we can get your account up to speed with compliance!
Top Tip for Maintaining a Good ISN® Rating
To maintain a good ISN® rating, your company must continuously meet ISNetworld® expectations. Good practices like submitting accurate documents, maintaining insurance policies, and prioritizing safety can help you remain compliant. Essentially, keep following the practices that earned your company a good ISN® grade.
Here at Industrial Compliance and Safety, we have expert compliance staff with over 20 years of experience that can help your company! Don’t face the extensive ISNetworld® process alone. Instead, contact us, so we can help you navigate the submission process. Please get started by calling us today!