In these times of economic uncertainty, businesses are looking for all kinds of ways to save money to keep that bottom line looking nice and healthy.
Well, as all good employers understand the moral reasoning for good health and safety. As well as the moral reasons, it also makes good business sense to ensure your health and safety provision is up-to-scratch. Minimising risk can ultimately maximise the bottom line.
We have outlined a few of the key ways health and safety can help save your business time and money.
Keeps insurance premiums down
It goes without saying that more accidents increase insurance premiums. Health and Safety management provides ways to minimise or eliminate accidents through risk assessments.
In 2016 over 1 million people suffered with work related injuries – that’s a lot of days off. Health and Safety management, helps you as a business to make the work environment as comfortable and safe as possible. By doing this you will reduce the likelihood of injuries at work and increase productivity for your business.
Potential customers or business partners are less likely to want to engage with companies that neglect the safety of their employees. They may see them as risky investments or instilling a culture that does not match their values.
Replacement labour costs
If an employee has an accident at work which results in them being absent from work for an extended period you may have to get in a replacement. As well as sick pay costs, your business will have to cough up employment and extra training expenditure.
There has been a tripling of safety fines handed out to businesses over the past year since the new regulations came into force. An inability to ensure your employees are given the right equipment and a safe environment could end up costing your business thousands or even millions of pounds.
At Sphere RHSM we provide Health and Safety support to a wide range of businesses and would love to hear from you. Call us on 01733 286070 to find out how we can help make sure your Health and Safety is up-to-scratch.