Masters Degrees (Industrial Psychology)

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Browsing Masters Degrees (Industrial Psychology) by Author "Beelders, Jaen"

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    Towards a best practice approach for the assessment of loss of earnings
    (Stellenbosch : Stellenbosch University, 2023-03) Beelders, Jaen; van der Bank, Francois; Stellenbosch University. Faculty of Economic and Management Sciences. Dept. of Industrial Psychology.
    ENGLISH SUMMARY: Loss of earnings reporting has a significant impact on individuals who have suffered traumatic life events requiring compensation for the damages caused to their career and related earnings. Since the majority of loss of earnings matters are due to road accidents, this also has ramifications on publicly funded institutions such as the Road Accident Fund. The opinions of opposing earnings experts are often in disagreement regarding the formulation of their progression which translates into increased litigation costs largely funded from public taxes. Should one consider that both experts have the same information at hand, there should be limited deviance in their opinions. The purpose of this study was to assess the current practices and considerations of earnings experts in the formulation of their postulations and to provide a recommended approach to compiling a loss of earnings report with the goal to develop a best practice approach. The study thus investigated current practices (procedures, rationale and common assumptions) followed by earning experts to determine loss of earnings and develop guidelines that will assist in developing a best practice approach. A qualitative research methodology was utilised with participants being selected through a non-probability sampling technique. Data collection entailed semi-structured interviews that were conducted via video interviewing software and recorded for thematic analyses. Interviews with subject matter experts (earnings experts, actuarial experts and legal experts) demonstrated five main themes and 24 subthemes. The five main themes included: Role of the earnings expert; process followed in compiling a report; formulation and structuring a report; quality concerns and difficulties; and recommendations to improve reporting. The findings were integrated with the literature to formulate recommendations for loss of earnings reporting. This exploratory study contributes to literature concerning practices followed by earnings experts and to recommendations for compiling best practice guidelines.