Bottom-line Benefits of Safety in Business
A modern business in the UK should be taking health and safety extremely seriously, for at least three reasons. First, a safe environment is an inherently good thing, since it allows us to avoid suffering and pain. Second, a safe environment tends to be a more productive environment, since it reduces absenteeism, and bolsters morale. Finally, employers are legally obliged to provide a safe working environment – and they could be held accountable if they should fail in this duty.
What are the bottom-line benefits of a safe company?
Let’s take a look at some of the direct financial benefits, and how they might manifest in the workplace. As we’ll see, safety is a crucial Key Performance Indicator for any business.
Employee satisfaction and motivation
If you’re an employee, and you perceive that your employer is concerned about your well-being, are you likely to be more motivated to produce results for them? Conversely, consider an employee whose boss is indifferent to safety concerns. If you don’t take this sort of thing seriously, then you risk disgruntled employers jumping ship to another firm.
Reduced direct costs
Where employees suffer accidents in the workplace, they might be entitled to claim for compensation from their employer. By providing a safe environment where the severity and frequency of accidents are reduced, employers will be able to save in the long term. So, you might look upon safety as an investment that repays over time.
Better brand perception
Brands which are perceived to promote safety as a value may enjoy a better reputation among investors, customers, and would-be recruits. If you’re considering joining a company, then hearing about a disastrous and avoidable accident might well give you pause for thought. For certain kinds of businesses, a reputation for poor safety can be an obstacle to effective recruitment.
Workers who haven’t been injured, and don’t fear suffering an injury in the future, are likely to be more productive, as well as motivated. This applies in settings where physical labour is required, such as a construction site or factory. But it also applies in offices. An administrator who is suffering from tendonitis or repetitive strain injury, for example, might be unable to contribute from a desk.
As we’ve noted, employers are legally obliged to provide a safe working environment. If they don’t, then they might not only be held accountable by personal injury lawyers – they might face more severe legal penalties under the Health and Safety at Work Act.
This goes especially if the safety concerns in question extend to the general public. A restaurant that doesn’t practice acceptable hygiene, for example, might have its ability to serve food taken away.
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