Returns on Safety

ROI on Safety in the workplaceSafety should be one of the biggest priorities for any commercial company. Especially considering the part that a healthy and energized workforce plays in the overall success of any company. We often talk about the productivity levels in the workplace but in order to increase these levels, it is crucial to have a healthy and content workforce, without distractions from fatigue or physical safety. Moreover, we realize that it can be hard to sell upper management on the idea of spending tons of money to help prevent injuries, not to mention the tangible returns on investment. That is why we did some research and found some stats to help you realize the true need. Those pesky slip and fall incidents can cost upwards of $42,125 over a single claim along with the declined productivity and loss of your top employees for a significant portion of time. But they can be prevented with the right kind of commercial matting in place, providing extra grip and visual guidelines for your employees to lead them to safety. In a recent article from the safety and health magazine, they explored the real life case from Schneider Electric spanning over 12 years.
“In 2002, France-based Schneider Electric believed it already had a good safety program. The company’s OSHA recordable injury rate was 3.6 per 100 full-time workers – below the industry $average at the time. Still, the company wanted to do more to minimize the likelihood of a worker getting injured or worse, according to Rich Widdowson, Schneider Electric’s vice president of safety, environment and real estate. “We knew that we had some issues we had to deal with, and we really wanted to improve and build a safety culture,” Widdowson said. For Schneider Electric, the focus was less about building a business case for safety, Widdowson said, and more about identifying and eliminating hazards that could hurt someone. As a result of investing in safety, the company saw its injury rate drop to 0.5 in 2013. That equals about 900 fewer people injured than would have been a decade ago, according to Widdowson. On top of that, Schneider Electric is seeing more than $15 million annual savings in direct costs alone – which, as previously noted, pales in comparison with indirect costs that could be 2 to 3 times more than direct costs.”
The safety and health magazine also created this helpful little infographic to help you make your case for a healthy and productive workplace even easier: Safety in the workplace Infographic Stay tuned for more information on health and safety in the workplace. Please subscribe to get our next posts on improved productivity.