Protect your human capital and realize greater operational efficiency
In today’s business climate, companies are operating leaner and faster in order to stay competitive. The most important asset to your business is likely to be your employees. Providing a safe and injury-free workplace is vital to your corporate culture, retaining your employees and allows them to work efficiently and effectively everyday.
Did you know that every time an employee is injured on the job, you pay four times the actual medical costs on indirect costs? It is estimated that the greatest financial loss resulting from an injury are related to factors such as slowed production and subsequent overtime, hiring and training a replacement employee and administration costs to investigate and process the medical claim. Having an effective Safety and Health Program will help protect your human assets and allow your business to run more efficiently and effectively with less business interruptions.
Lower Insurance Premiums
Did you know that having a Safety and Health Program will reduce your insurance costs?
Health insurance premiums are a major cost of doing business today. A proactive safety program that focuses on preventive actions such as hazard and near miss reporting, frequent safety inspections and employee safety training will not only reduce your loss experience, but will reduce your workers compensation premium as well. Lower premiums improve your bottom line.
Competitive Advantage
As an OEM supplier you want to present a high-quality, low-risk product or service to your customers to protect your liability. Many companies set safety and environmental performance standards that require their suppliers to provide documentation of safe work practices and green initiatives. Your company will have an advantage over its competitors if it maintains an effective safety and health program.
Avoid Regulatory Citations and Fines
Having a Safety and Health Program is not just the right thing to do, it is the LAW!
The Occupational Safety and Health Administration (OSHA) requires that employers provide “a safe and healthy workplace that is free from recognized hazards.” The OSHA Act was put in place in 1970, so 40 years later, it is expected that companies know their obligations under the Act. Should you have an unannounced visit from OSHA, you will want to be prepared and protect your company from any unexpected business interruptions.