Safety pays for everyone

Why should you put the effort into improving workplace safety and health?

Work-related injuries, illnesses and deaths impose both direct costs and indirect costs on employers, workers and the community. In Australia, the cost of work-related injuries and diseases is estimated to be over $60 billion per annum. And this is only the financial cost. There's no way to know the value of the quality of life lost to injuries and illnesses.

The recent Australian Workers’ Compensation Statistics (AWCS) Report found that in 2018–19 labourers accounted for almost a quarter (24%) of all serious claims, followed by community and personal service workers and technicians and trades workers (18% each). Together, employees working in these occupations accounted for 60% of all serious claims while representing just 34% of the workforce.

For Workers

Work injuries and illnesses can affect every aspect of life for workers and their families. For workers, injuries or illnesses can cause:

• Loss of life
• Pain and suffering
• Loss of income and financial well-being
• Stress on relationships
• Loss of job or career
• Health-care costs beyond what is covered by insurance

Workers may also suffer from low self-esteem, loss of independence, mental health problems, other medical problems, and damaged relationships.

For Employers

A safe and healthy workplace not only protects workers from injury and illness, it can also lower injury/illness costs, reduce absenteeism and turnover, increase productivity and quality, and raise employee morale. In other words, safety is good for business. Plus, protecting workers is the right thing to do. In 2011, the Australian Government’s (Comcare), Benefits to Business: The Evidence for Investing in Worker Health and Wellbeing paper showed an average return of $5.81 for every dollar invested by companies into workplace health programs. It also found the average worksite health program:

• decreased sick leave absenteeism by 25.3 percent
• decreased workers compensation costs by 40.7 percent
• decreased disability management costs by 24.2 percent

Another study by Environ Med published in 2013, analysed the stock market performance of companies recognised for their health and safety, and found an average annual return of 6.03 percent – well above the market average of 2.92 percent. The researchers said the evidence was there to support the concept that focusing on the health and safety of a workforce is good business.

For a small business, one injury can mean financial disaster. Costs to a business include:

• Production losses
• Wages for work not performed
• Increased workers' compensation insurance costs
• Damage to equipment or machinery
• Hiring and/or training new employees
• Decline in product quality and worker morale
• Decline in worker morale
• High turnover and lost work time

The cost of workplace injuries, illnesses and deaths is much greater than the cost of workers' compensation insurance alone. Insurance is just the tip of the iceberg when it comes to these costs.

Safety Pays for Everyone

The cost of injury prevention is far less than the cost of an injury. A safe and healthy workplace attracts and retains quality employees. It's an asset to a community, operates more efficiently and enjoys a healthy bottom line. The business and the workers thrive in a safe, healthy, respectful and caring environment.

Safe and healthy workplaces Are better places to work and have more satisfied, productive workers who produce higher quality products and services, return to work more quickly after an injury or illness, and feel loyal to the organisation. They are also better at retaining employees and establishing positive community relations.

You can’t put a price on what really matters. Invest in your people and they will invest in you. Book an appointment online today, or contact us to discuss your individual needs.