Workplace safety is about more than meeting corporate safety KPIs and maintaining OSHA compliance.
In fact, though acquiring safety solutions such as fall prevention equipment does require an upfront investment, the long-term advantages of preventing accidents at corporate facilities greatly outweigh the costs.
If you’re analyzing potential returns on investment from implementing safety solutions, here are three long-term workplace safety benefits to keep in mind.
1. Workplace Safety Boosts Production Efficiency
At first glance, workplace safety and production efficiency may seem like opposing goals. After all, executing production processes in the safest manner possible does take time and consideration.
However, what you need to keep in mind is that workplace accidents cause substantial downtime. For instance, if a worker sustains a serious injury on a business’s loading dock, that dock gets shut down for hours or even days as OSHA and corporate inspectors come in to analyze the root causes of the accident. Meanwhile, the supply chain is held up, causing trucks to sit in a queue. During the shutdown, no products are coming in or going out of a facility. Whatever small efficiency gains were made from ignoring safety practices are lost during the shutdown.
When the threat of substantial downtime is considered, it’s clear that workplace safety actually increases production efficiency.
2. Workplace Safety Protects Profits
Even minor workplace accidents could lead to workers’ compensation claims. Although workers’ compensation insurance covers the cost of an employee’s time off and medical expenses, the increases to the company’s premiums typically exceed the cost of the claim itself.
Additionally, major workplace accidents resulting in serious injuries or death expose companies to financial risks including OSHA compliance fines and the costs of civil litigation.
Businesses that invest in comprehensive safety solutions protect their profits from these serious financial liabilities.
3. Workplace Safety Benefits Public Relations And Employee Morale
No business wants to be portrayed in the news as being responsible for worker deaths. The sales declines that typically follow this kind of devastating workplace accident seriously burden a company’s bottom line. Typically, an accident causing workplace fatality is followed by a costly public relations campaign that never fully recovers the company’s positive image.
Additionally, employees who feel that their employer does not do enough to eliminate safety hazards and keep them safe are likely to become discontented. Discontented workers typically search for alternative employment. Conversely, unhappy workers who do not leave their jobs are likely to work less efficiently and less safely, increasing the chances of additional costly accidents occurring. Finally, employee morale directly contributes to a business’s reputation in the community. Any facility manager or executive who has ever pitched a facility expansion to a local zoning board knows the value of high community regard.
Reducing accidents by focusing on workplace safety and investing in comprehensive safety solutions such as fall prevention equipment doesn’t just help businesses meet corporate and OSHA compliance requirements, it helps them thrive.
Need to boost production efficiency while maintaining workplace safety? Click below to download this industry guide from Carbis Solutions to discover the secrets to a safer – and more efficient – work site.