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Business Cost Savings Through Safety

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  • Business Cost Savings Through Safety

    Setting a health and safety program in place will reduce costs. Having a program will reduce accidents and will lead to lower company worker's comp premiums; further business insurance companies prefer their customers to have health and safety programs. These insurance companies might even discount the premium if a program can be proved to exist. The average cost of an accident is $68,000. Direct costs of accidents such as worker's comp and fines levied can close a business. Indirect costs such as low morale of employees, legal fees, and retraining can be as costly if not more.

    A working program will:
    1) Improve employee morale - Shows care in their well being
    2) Reduce revenue loses - Fewer accidents keeps all employees at work
    3) Give a boost to the customer - Makes sure business is operating optimally