Employers hear a lot about the importance of workplace safety. OSHA regulations are in place to help guide them in creating processes to keep workers safe from common dangers on the job. However, despite even most employers’ best efforts, workers are still injured on the job. Regardless of your industry, workplace injuries and illnesses occur every day. When looking at the costs of these incidents on a national scale, the costs are huge.
What a lot of companies don’t realize though, is that there are technologies and system out there that are proven to be effective in reducing your incident rates and costs.
Why Do You Need A Safety Management System?
The obvious answer is to protect the lives of your workers. Unfortunately, sometimes in the business world, we must rationalize our spending based on the financial returns.
You may try to do everything in your power to protect your employees, the hard truth is that resources can often decide the level of safety you provide. There is good new though! Investing safety can be financially beneficial for a company and there is a strong case for you to make to your finance department. Various studies have shown that just $1 invested in injury prevention returns between $2 and $6. That comes from preventing to costs related to incidents, from improving productivity by saving time in safety reporting and employee turnover.
The ROI Of Sospes
Systems like Sospes are designed to improve employee engagement in the safety program. By improving employee engagement, you can reduce safety incidents by 48% or more. If you have 2 incidents a year, preventing just one saves you $39,000. For a company of 100 employees, that pays for Sospes for years to come.