The ROI of Safety.

Did you know that for every $1 a company spends on safety, it saves $4 in reduced workplace injuries and downtime? Let’s explore the data that proves safety is a bottom-line booster.

Ok, so let's talk about that return on investment for having a good safety culture in your workplace. A lot of people don't realize that they can save money with good safety. Let's explore three ways that safety can save you money.

Reduced Injuries: When there is a culture of safety, people tend to act safer and be more mindful of what they are doing. This can lead to less injuries. Injuries are also reduced with regular workplace inspections that identify risks and hazards that can cause workplace incidents and injuries.

Minimizing Lost Time Incidents: Here's the reality- there can be a real disparity of what time is needed for recovery from an injury. Let's say an employee sprains their ankle at work. The doctor may say they need two weeks off to help heal the injury, a physiotherapist may say a week with some good stretches and exercises and the employer may say that they have some modified duties available the next day to help in recovery. 

None of those are wrong, but it's about balancing that with the needs of the injured worker and the employer. It is definitely important for the employee to heal and recover well, and there are ways that this can be done in conjunction with the doctor, physiotherapist or other providers to work together in helping the injured worker recover quickly and well, balancing both the needs of the employee and the employer. It can be a real tricky situation. 

Improved Retention: When there is a good culture of safety at work, employees will want to stay longer. If people aren't getting hurt, the general feeling is that the workplace is inherently safe. When regular inspections and safety meetings are being held, it shows that not only is the workplace safe, but that there is a focus and culture of improving safety and not just meeting compliance.

Thinking about improving safety culture can be daunting to think about, but with a bit of help, this can be a reality for companies. In turn, with improved safety culture comes a direct ROI to the bottom line with reducing injuries, minimizing lost time incidents and improved retention for your employees. If you want some help with this, feel free to book a quick call with me to see what your next steps could be on improving safety culture. I look forward to chatting with you!

"It takes leadership to improve safety.”— Jackie Stewart