Cost Benefit of OSH Management
For many businesses health and safety is looked at as being a burden and an unnecessary cost to their business.
Some businesses "wait for an accident" to happen before they will consider taking the road to providing a healthy and safe working environment for themselves and their employees. This option is no longer viable.
A commitment to workplace health and safety is a committment to protecting your business, yourself, your employees, workmates, family and friends.
The human and financial cost of work place accidents can be readily calculated using the ACC accident cost calculator
Using the example of a builder who sprained their elbow, the calculator found that this one accident cost $3,340. This and other Injury cost case studies are attached.
Here's the rub, if this accident had been prevented, then this would have more than paid for the cost of implementing a small business health and safety system and saved the human costs that accidents inevitably have. For every dollar invested in health and safety research shows the return will be between two-six dollars.
Many business will have key pieces of machinery, equipment or plant that they keep fully maintained and insured to protect themselves against the loss of income and productivity. Yet the most valuable asset to any business, the people who run and operate the business, remain largely unprotected. The information from the United States outlines what it can actually cost for a business not to invest in health and safety.
If you would like to know more about protecting your business and your employees from risk Contact us