Costs to a business include:
• Production losses
• Wages for work not performed
• Increased workers’ compensation insurance costs
• Damage to equipment or machinery
• Hiring and/or training new employees
• Decline in product quality and worker morale
• Decline in worker morale
• High turnover and lost work time
A safe and healthy workplace not only protects workers from injury and illness, it can also lower injury/illness costs, reduce absenteeism and turnover, increase productivity and quality, and raise employee morale. In other words, safety is good for business. Plus, protecting workers is the right thing to do.
OSHA reports that employers can save $4.00 to $6.00 for every dollar spent on a safety and health program. Workplaces with successful safety and health management systems reduce injury and illness costs 20-40%, according to OSHA.