Each and every year, on-the-job accidents, injuries and fatalities cost the country close to $200 billion. That’s money that could be kept in companies bank accounts and it’s pain and suffering that workers can ultimately avoid. According to the Occupational Safety and Health Administration (OSHA), there are ways that you can save money and save lives at the same time!
But how can your company save money and improve the health and safety for everyone? It’s simple. One study with OSHA determined that for every $1 invested into a health and safety program can save any employer anywhere from $4 to $6.
Our Boulder workers’ compensation attorneys understand how beneficial it is to have a safe work place. The number of injuries and illnesses decline, the amount of money dished out for workers’ compensation goes down and so do medical costs. There are more benefits to a safe workplace though. When workplaces are healthy and safe, absenteeism typically reduces, there are lower turnover rates, better and higher productivity and increased morale among workers.
The costs of work accidents:
-Direct Costs: These are the costs that deal with medical assistance as well as indemnity payments.
-Indirect Costs: These are the costs that result from lost time in production from the injured worker. In many cases, there may be spoiled product, cleanup time, unsatisfied customers or patients, scheduling delays, the time used to train new workers, legal fees, overhead costs as well as a spike in insurance costs.
OSHA has a simple computer program that is offered to employers for free! It’s there to help companies to figure out how much work accidents are costing them.
This program isn’t only here to help to save you money, but it’s here to help you to better comply with federal safety work standards. All employees are required to protect their workers from any on-the-job accidents or injuries. Make sure that workers are properly trained and that they have the necessary safety equipment.
You’re urged to speak up about any dangers you witness on the job and bring them toy our employer’s attention. It’s a move that could save you some pain and could save them some money!