Cost Containment Services – We Have You Covered.
Use Safety Programs to Lower Costs
With help from safety programs, you can save your company money, improve productivity and increase employee morale on the road. Here’s how.
According to the Occupational Safety and Health Administration (OSHA), workplaces that establish safety and health management systems can reduce their injury and illness costs by 20 to 40 percent. Safe environments also improve employee morale, which positively impacts productivity and service.
In today’s business environment, these safety-related costs can be the difference between reporting a profit or a loss.
The Cost of Safety – Measurement
Demonstrating the value of safety to management is often a challenge because the return on investment (ROI) can be cumbersome to measure. Your goal in measuring safety is to balance your investment vs. the return expected.
The Value of Safety
OSHA studies indicate that for every $1 invested in effective safety programs, you can save $4 to $6 as illnesses, injuries and fatalities decline. With a good safety program in place, your costs will naturally decrease. It is important to determine what costs to measure to establish benchmarks, which can then be used to demonstrate the value of safety over time.
BIG will work with you in developing the right Safety Program for your business. Contact your BIG representative at (954) 800-6400 to discuss how.