Workplace safety is vital to your workers’ well-being and your company’s bottom line. In this post, you’ll learn five specific reasons why following safety guidelines is essential.
- Meet OSHA Standards
As of early 2017, the maximum penalty for a serious OSHA violation was $12,675. For a willful or repeat violation, it was $126,749. That’s a lot of money, especially for small to medium-sized businesses. Even one penalty can set you back and means less money to invest into other areas of operation.
Besides the financial impact, failing to meet OSHA standards can hurt your company’s brand equity and lower public perception. So, it’s to your advantage to familiarize yourself with OSHA’s laws and regulations and be diligent about staying compliant. If you’re not sure about these expectations, reading this guide can help.
- Avoid Legal Action
Facing a work injury lawsuit can be incredibly costly and stressful and is the last thing you want to deal with. With 2.9 cases of nonfatal workplace injuries and illnesses occurring per 100 full-time equivalent workers in the U.S., this is something employers may face when safety guidelines aren’t followed.
- Protect Your Workers
Everyone has the right to a safe working environment and shouldn’t have to worry about suffering an injury while on the job. Your workers are one of your greatest assets, so their safety should never be compromised. This is why it’s so important to have a safety-centric workplace.
- Increase Productivity and Profitability
When employees don’t have to worry about injury, they’re better able to focus on their jobs. They tend to be more engaged and have less stress. In turn, they’re able to do their jobs more effectively and efficiently, which contributes to higher productivity and profitability.
- Workers Are Loyal to You
Following safety guidelines and putting an emphasis on employee well-being shows you value your staff. And this usually translates into a positive culture and worker loyalty. As the Harvard Business Review points out, having loyal workers is critical because a lack of loyalty is a big reason behind turnover. Having excess turnover is expensive because “replacing a single employee costs approximately 20 percent of that employee’s salary.”
As we’ve just learned, safety can have a huge impact on your business. So as an employer, you’ll want to follow safety guidelines to a tee.
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