Why Companies Should Invest In Health And Safety

Why Companies Should Invest In Health And SafetyAn employee’s productivity, health, safety, and happiness are crucial to a company’s success. This is why businesses must invest in health and safety protocols, as well as programs to keep staff healthy and happy. However, this is not the case with many companies all over the world. In fact, most organizations believe that health and safety expenses are an added cost, wasteful, and do not bring about profit, which is likely the reason why occupational injuries and deaths continue to happen worldwide. In 2019, the Occupational Safety and Health Administration recorded 5,333 occupational deaths, mostly in the field of construction, logging work, fishing, and professions that deal with heavy machinery and strenuous physical activity. Meanwhile, incidences of non-fatal workplace injuries mostly occurred in athletes, police officers, and heavy machinery operators.

Even if your company is not in these industries, that doesn’t mean you’re exempted from implementing health and safety protocols. All workplaces come with their own set of risks. An office worker may slip and have head injuries, while a sous chef may experience first-degree burns from an old stove. To prevent medical costs and legal woes, investing in health and safety measures must be a priority. Here are three major reasons why your company should invest in health and safety programs and protocols.

Keep Costs Down

According to FVF Law, employees can file work injury lawsuits if they experience any injuries while on the job. If your employee wins the case, your company will be required to pay up, not just for direct expenses such as medical bills, but also to cover your worker’s missed working days. The injury would’ve been prevented if your company only invested in protocols that would’ve ensured your employee’s safety at work. Though initial costs may be expensive, it will be worth it in case something happens and you end up paying more to compensate for the workplace injury. Getting sued by an employee can also increase your insurance premiums, leading to increased expenses.

Improve Productivity

In a survey conducted in 2019, 79% of employees believed their company’s wellbeing programs helped them to be as productive as possible. They also believed that such programs had helped them avoid getting sick and missing work. Health and safety programs can include on-site health clinics, improving the workplace environment, hiring more security or sanitary workers, personalized health management programs, having recreational areas, fitness programs, safety training, and more. When workers see that your company is taking the means to ensure they are safe and healthy, they will feel valued, and when employees feel valued, they are more likely to stay, and be motivated to work and become more productive.

Enhance Company Image

Investors and potential partnerships are impressed by companies that take care of their people. Business is no longer just about profits since society is valuing corporate responsibility more and more. Investors will shy away from companies with dubious ethical issues, and workplace-related injuries and fatalities are major red flags in the corporate world. When potential investors and partners decide to work with any company, one of the very first things they look into is the company’s reputation. Any potential lawsuits, negative news, complaints from employees, and even hearsay can ruin possible interests in your company.

Having a business isn’t just about making money. If you run or own a company, health and safety protocols are crucial for your company’s success. Your people are your number one asset and if you fail to take care of them, not only will your bottom line be affected, but your whole reputation in the business world could crumble. Investing in your company’s health and safety policies and programs is an investment that can help your business succeed.

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