Business leaders think about safety within a company in many different ways. They don’t always place the importance on it that they should — because regardless of all of those different opinions, there are some real reasons why safety matters, and why it promotes overall value for a company.
It’s not just a touchy-feely thing, a question of looking out for other people, although the moral imperative is what drives a lot of professionals to keep safety standards in place. Safety also helps enhance a business model in some key ways.
The Cost of an Accident
One of the best ways to understand the value of safety is to look at what happens without it.
It only takes one accident to have a serious financial impact on a company. With costs for something like a major back injury or finger amputation ranging up to $100,000 or more, a single industrial accident can easily outweigh the benefits of months of sales increases or major efficiency projects in terms of costs.
But isn’t it covered by workers comp insurance? Maybe — but then the business sees its insurance rates go sky-high. All of this can be avoided, in many cases, with attention to safety practices such as:
- Personal protective equipment
- Safety protocols for equipment
- Adequate safety training
The Business Reputation
There are also a lot of soft costs for these workplace accidents. Many of these revolve around the reputation of the company.
Some passionate safety advocates would frame it this way: think about the impression that it makes when people see an employee of a business being carted away in an ambulance.
On a broader level, safety affects your corporate culture. The smartest and most forward thinking business managers and leaders today are taking deliberate steps to build positive corporate cultures — they understand that beyond rote productivity and profits, it pays to build a vision of a company that’s positive and attractive. It helps to retain workers and decrease turnover. It helps bring in new customers. It’s a real game-changer.
Workplace injuries and accidents poke holes in these positive corporate cultures in all number of ways. That’s another big reason to keep your attention on safety standards in the workplace, and be motivated to elevate your business to a higher standard.
Other values of workplace safety relate to productivity and absenteeism.
Ask people to do repetitive tasks that aren’t ergonomically designed, and you’ll eventually see many of them taking days off, popping pills or simply walking out the door. All of these are also cost drivers — instead of the humming along like a well-oiled machine, your business is limping along like a collie with a broken leg.
About Full Steam Staffing
Full Steam Staffing is a full-service staffing agency focused on providing clerical and light industrial staffing solutions to manufacturers, distribution centers and other organizations that need qualified, reliable workers. If you are currently looking to hire and grow your workforce, contact our team of skilled recruiters today!