We all know the cost accidents can have on society – but have you thought about the toll it can take on your business? Last year, the HSE put the total cost of workplace accidents, illness and absences at a staggering £14 billion – and that’s excluding the cost of cancer from workers exposed to asbestos etc. In fact, the HSE went further, with their key annual figures painting a shocking picture;
- 1.2 million working people were suffering from a work-related illness
- 175 workers were killed at work
- 115,000 injuries were reported under RIDDOR
- 200,000 reportable injuries (over 3 day absence) occurred (LFS)
- 26.4 million working days lost due to work-related illness and workplace injury
What’s more, while insurance may go some way to covering the costs, the uninsured losses often massively outweigh the cost of insurance premiums. These losses can include:
- Lost time
- Sick pay
- Damage or loss of product and raw materials
- Repairs to plant and equipment
- Extra wages, overtime working and temporary labour
- Production delays
- Investigation time
- Loss of contracts
- Legal costs.
With so much at stake, it goes without saying that a good health and safety record can be vital in ensuring an organisation’s financial stability. Fortunately, businesses are waking up to these, sometimes crippling, costs – with both clients and the public demanding a visible commitment to safety.
Shout it out!
This is where the RoSPA Awards Scheme really excels – not only does it help drive down costs, by encouraging organisations to drive up standards and improve their safety record, winning also provides a strong, visual statement about your organisation’s commitment to safety, which in turn can also serve to win new business and tenders over competitors. At a time when adding value is key to procurement decisions, Award Winner assurances can make the difference between a ‘yes’ and a ‘no’.
Protect your bottom line
Finally, this overt socially responsible attitude will not only serve to protect your bottom line, but it can also provide a real boost to staff morale, reassuring both current and potential employees that their well-being is of paramount interest – as well as providing them with a tangible reward for the part they’ve played in creating a healthier, happier workplace!
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