Investing in the health and safety of the workplace, the environment and team is not only essential to success in business, it is a great way to demonstrate the value for workers, and the customers they serve. Additionally, the product of that investment is a consistent return: financial earnings and continued success. It is always a great time to start or begin investing in workplace safety.
Here are some reasons and ways to do so.
Taking the responsible steps to ensure the health and safety of a workforce can be accomplished in a myriad of ways, but most of those nuances can be reduced to three major categories: the implementation of procedures that encourage the prevention of accidents and injuries; the improvement of general and long-standing employee morale; setting standards that protect and maintain a respectable reputation with competitors and customers.
While there are many different ways, means, and systems by which the prevention of accidents and injuries can be supported in the workplace, much of what those steps look like will be determined by the industry, the standards and regulations, the environment, and the size of a team.
Generally speaking, however, this can be done through regular disaster and emergency site plans, regular safety training, the maintenance of equipment and the proactive implementation of those safety protocols. Doing so helps to ensure that employees are being careful in their workplaces for their sake, their co-workers, and the products and customers that are dependent on the operation of efficient systems.
Even minor injuries can slow down productivity by displacing necessary workers, while serious accidents can compromise the energy and morale of team members. Combined, especially over long periods of time, this can mean significant loss of time, higher business expenses and product output. Worse still can come in the form of higher insurance rates, possible legal fees and having to invest more in expensive equipment upgrades. The good news is that some of these investments might even be considered a business write off.
The average cost of a worker’s compensation claim is about $42,000. The greatest cause of claims is the result of motor-vehicle crashes, but there is a large list of common injuries and their consequences. These are things like burns, falls, strings, impacts, and even cuts and scrapes.
The most common and costly fees associated with claims are due to head traumas, followed quickly by the injury of multiple body parts. With these types of figures, it is clearly a healthy investment as a business owner to see to the implementation of safety regulations and technologies. The number of resources and technology available today is constantly growing and improving. The adoption of digital systems enhanced by predictive AI and monitoring systems has made safety much easier to implement.
From wearable tech to personal protective equipment, there is no shortage of ways to protect the investment in a business by protecting employees, infrastructure and the products or customers served.