What Are The Benefits of Investing in Workplace Safety and OSHA Compliance?
Many small companies struggle to understand the importance and benefits associated with investing in a workplace safety program, especially if they’ve never experienced any related problems such as high injury rates or a failed OSHA inspection.
The problem is made worse by the common challenges small companies face when trying to navigate complicated and ever-changing mess of OSHA health and safety regulations, including lack of expertise, time and resources needed to keep up.
But for small businesses who operate in high hazard industries such as manufacturing or construction, it’s typically just a matter of time before problems begin to rear their ugly head.
These problems can include OSHA inspections which can result in huge fines and penalties, increased Worker’s Compensation premiums due to increased EMR, lost business opportunities from customers who don’t want to work with non-compliant vendors, wasted money and the list goes on.
It’s actually a very complicated subject, but at the end of the day investing in an OSHA compliance program just makes good business sense, and can prevent tragedy and a wide range of serious risks and liabilities.
Never forget that if your company exposes your employees to health and safety hazards, your company is required by Federal law to implement and manage an OSHA compliant health and safety program. In other words, building a safety program isn’t optional.
Having said all of that, there are many tangible benefits associated with investing in workplace health and safety program, and here’s a brief summary:
- Reduced Risk:
- Reduced risk of serious employee injuries and fatalities. The numbers don’t like, tens of thousands of US workers get seriously injured and killed on the job every single year. Many of these tragedies are totally preventable and unnecessary.
- Reduced risk of huge OSHA fines and penalties that can run into the $10s or 100s of thousands of dollars.
- Reduced risk of civil and even criminal liabilities that can trigger when employees get seriously injured or killed on the job, and it can be proven that the company was negligent in managing health and safety requirements. These civil lawsuits can lead to settlements that can run into the millions of dollars, and criminal liabilities can result in major fines and even jail time.
- Improve employee engagement & productivity: Employees notice and appreciate when their employer takes an active role in improving health and safety conditions at the company. This often leads to improved employee engagement and productivity as well as reduced turnover and absenteeism. Employees regularly rank “having a safe workplace” as a top 10 reason for job satisfaction.
- Improve company culture All of the combined employee benefits associated with safety programs can adds up to an improved company culture. This can have wide ranging positive impacts on the bottom line.
- Improve quality: It’s an established fact that improved health and safety performance equates to improved quality performance. Feel free to search the internet and you’ll find many supporting studies. In other words, if you want to improve quality then a great place to start is with safety.
- Cut costs: US companies lose an average of $140 billion every year to all of the direct and indirect costs associated with workplace injuries. This includes medical costs, accident investigations, legal fees, damaged equipment and more.
- Growth: There’s often no better way to “move your company up the competitive food chain” then by building a strong safety program. If you want to do business with bigger companies and customers who demand safety performance from their vendors, then a safety program can become a major growth accelerator.
- Protect Your Reputation: Companies who have serious injuries, fatalities, or failed OSHA inspections often suffer major PR and reputation damage and embarrassment when news spreads on-line, in trade journals and local newspapers.
Building a strong safety program has never been easier with our turn-key and affordable outsourced OSHA health and safety compliance services.