Day 2- Management Leadership
A comprehensive safety and health program can improve a business’s safety and health performance which leads to reducing costs, increasing employee retention, and improving competitiveness. A job-related injury or illness can have a negative impact on a business in a variety of ways. An investment in safety not only benefits employees but also serves as a smart investment for the company.
One of the benefits of implementing a safety and health program at your company is improving your Experience Modification Rating (EMR). This rating is used by insurance companies to gauge both the past cost of injuries and the future chances of risk. A lower rating means your company pays less in workers compensation premiums. Also, reducing your company’s rating can give you an edge when bidding on new projects.
The decision of whether or not to invest in and implement a safety and health program is usually the responsibility of the company’s leadership and/or executive management. To highlight the importance of investing in safety, the National Safety Council (NSC) has provided a detailed guide for executives to use when making the decision to invest in safety for their company:
Implementing safe work practices, no matter the industry, is both socially responsible and good for business. Research has proven that companies that invest in safety and health see a great return on their investment. Executive management and decision-makers must understand that maintaining a safe work environment leads to financial benefits. In this article from the American Society of Safety Professionals (ASSP), the return on an investment in safety is detailed:
If you need assistance with implementing safety practices at your company and/or creating a written safety and health program, Site Safety is here to help! Please call our office at 212-683-7200 or email firstname.lastname@example.org.