HEALTH & SAFETY
RISK VS BENEFIT THE COST OF FAILURE TO INVEST IN SAFETY
E
mployees are a business’s most valuable asset so it’s important to look after your people.
By illustrating a commitment to staff health and safety, employees feel valued and most importantly safe at work, which builds a trust relationship and can ultimately improve levels of productivity and reduce staff turnover. Investment in the workforce comes in many
forms from pay incentives, reward and recognition to training and development opportunities. When it comes to workplace safety, the decision to invest in additional systems above and beyond mandatory requirements, often comes down to the perceived return on investment (ROI). When making the decision to invest in new safety technology, what are the benefits and what are the potential long-term costs if the investment is not made?
BENEFITS There are multiple benefits to investing in enhanced safety systems, safety equipment and technology: · Staff morale - Companies that demonstrate
a strong commitment to worker safety, enjoy a more engaged workforce with less sickness and lower employee turnover. By investing in employee safety, employers send a clear message that people are valued, and the employer is committed to running a supportive business that cares about its people. · Brand reputation – Having a reputation as a good employer that values its people makes it easier to recruit and maintain best talent available and reassures customers and clients that the business is trustworthy. Motivated employees who are happy in the workplace are also much
more likely to remain loyal and work harder having a positive impact on overall productivity. · Reduce accidents – Serious accidents in the workplace cause a ripple effect to the whole workforce and can be catastrophic for company reputation. It is never worth waiting until an accident happens – taking a proactive approach and putting measures in place to counteract risk means accidents are far less likely to occur. When risks are efficiently assessed and enhanced systems are put in place, most serious accidents can be avoided altogether. · Save money – Making an initial costly
investment may seem daunting and difficult to justify, but can save huge sums in the long-term. Often the cost is less than expected with the overall benefits far outweighing the costs. Well equipped, motivated staff perform better and the
30 OCTOBER 2022 | FACTORY&HANDLINGSOLUTIONS
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