5 Reasons Why Workplace Injury Prevention Is Good For Business
Every year, millions of employees are injured in the workplace due to negligence or other factors that could have been avoided with proactive prevention efforts. These preventable injuries can lead to significant financial loss, both in terms of time away from work and lost productivity as well as increased costs related to medical expenses and workers’ compensation benefits. Read on to learn more about five reasons why workplace injury prevention is good for business.
5 Reasons Why Workplace Injury Prevention is Good for Business
1) Worker Compensation Costs
Worker compensation costs can be extremely high, and preventing workplace injuries can help keep these costs down. Injuries can cause disruptions in the workplace, and preventing them can help keep things running smoothly. Preventing injuries can help reduce employee turnover, as workers who are injured are more likely to leave their job. Injured workers may be less productive, and preventing injuries can help ensure that they are able to work at their full potential. Investing in workplace injury prevention shows employees that you care about their safety and well-being, which can improve morale. A safe workplace is a happy workplace, and happy employees are more productive employees.
2) Reducing Lost Productivity
Workplace injuries can lead to a significant amount of lost productivity, both in the short- and long-term. In fact, the average cost of a workplace injury is $1,153 per employee, per day. And when you factor in things like workers’ compensation claims, legal fees, and increased insurance premiums, that number can quickly start to add up. It's much more affordable to take proactive measures now than it will be down the line if you wait until an accident happens. One good example is wearing protective equipment on the job site. Studies have shown that by wearing gloves, boots, hard hats, goggles, ear plugs and respirators on the job site; employees were able to avoid being injured as often as those who didn't wear them.
3) Decreasing Insurance Premiums
One of the most obvious benefits of investing in workplace injury prevention is that it can help lower your business's insurance premiums. This is because insurance companies often offer discounts to businesses that take steps to reduce the risk of accidents and injuries. However, there are other costs associated with workplace injuries, such as medical bills and workers' compensation, which are sometimes greater than the cost of lost productivity due to an accident or injury. These factors make it more difficult to determine whether workplace injury prevention will actually save a company money.
4) Increasing Employee Satisfaction
When employees feel like their employer cares about their safety, they feel appreciated. This leads to increased job satisfaction and motivation, which can lead to better performance and fewer absences. Many employers have found that providing workplace injury prevention programs has resulted in a decrease in the cost of workers' compensation claims. Providing a workplace injury prevention program also reduces the number of lawsuits brought against employers by injured workers. By ensuring an injury-free work environment, you protect your company from liability. Employers who implement a workplace injury prevention plan see improvements in employee health outcomes such as fewer medical visits and reduced worker's compensation costs. Accidents do happen, but implementing preventive measures before accidents occur builds trust with your customers or clients. It demonstrates your commitment to the well-being of both people and property.
5) Improving Employee Morale
Employees who feel safe at work are more likely to be productive. Investing in injury prevention can help reduce workers’ compensation costs. Creating a culture of safety can help attract and retain top talent. Avoiding injuries can improve your company’s bottom line. A safe workplace is the right thing to do for your employees and your business. It doesn't matter how much money you're making if you're doing something wrong. By not investing in workplace injury prevention, you may be hurting yourself and your team with poor morale, higher insurance premiums, and turnover rates.
