Workplace injuries can wreak havoc on business operations. “The most serious workplace injuries cost U.S. companies nearly $60 billion per year,” according to the 2017 Liberty Mutual Workplace Safety Index.” That’s over $1 billion each and every week!
While most of this stems from workers’ compensation, profitability can also decline due to decreased productivity. But having a focus on safety helps keep workers healthy and production running smoothly. Here’s why.
Fewer Accidents Means Less Absenteeism
When proper safety precautions are taken, you can run your company more effectively and efficiently. Daily tasks can be carried out in an organized, orderly manner, and your employees face a far lower risk of getting injured on the job. Besides improving the well-being of your employees, this tends to decrease instances of absenteeism, which is advantageous for your company. When everyone is safe and healthy, you’re less likely to deal with employees missing work.
Forbes reports, “Injuries, illness and medical appointments are the most commonly reported reasons for missing work. In addition to acute injuries, chronic injuries such as back and neck problems are a common cause of absenteeism.” But you can reduce these issues dramatically by going all in on safety.
A More Experienced Workforce
When key workers are out due to injury or illness, you’re going to be short-staffed, bringing on temporary replacements or both. Neither of which are likely to do your productivity level any favors. Although it’s definitely possible to find knowledgeable, experienced temporary workers who understand how to perform key job tasks, there’s still the inevitable learning curve, and that takes time.
By being serious about workplace safety, you can greatly reduce the odds of key workers being out. In turn, you should consistently have an experienced workforce where essential duties are carried out without unnecessary problems along the way.
“Measures that support safety and reduce the likeliness of poor health in workers protect business against long-term risks and costs,” according to Professor and Director of the Centre for Workplace Leadership at the University of Melbourne, Peter Gahan. So safety is definitely best for business.
The time and energy you invest into workplace safety can pay dividends in the long run. Not only will you fulfill your legal obligations, improve morale and build a stronger culture, it can do wonders for your productivity. For more information on improving safety at your company, check out this resource from OSHA.
Looking for assistance with payroll or recruiting? Get in touch with Encadria Staffing Solutions today.