Simply Put – The cost of poor health and safety

Last week, our Simply Put article looked at the benefits of a positive health and safety culture in the workplace. In this article, we’re looking at the costs of poor health and safety to businesses, society, and employees.

• Lost working days
  Each year, millions of working days are lost as a result of work-related illness and injury. This costs businesses financially, and individuals may suffer a loss of earnings. High rates of absenteeism also affect the productivity of a business and the morale of employees.
• Ill health, injury and death
  Ill health and injury can seriously affect an individual’s quality of life. Failure to implement a good health and safety procedures can result in fatal injuries, costing individuals their life.
• Loss of reputation
  Incidents and accidents in the workplace can cost businesses their reputation, damaging relationships with investors, companies, clients and the community.
• Loss of productivity
  An unhealthy, injured, unmotivated workforce can lead to a drop in productivity. High turnover rates cost companies time and money and result in a drop in production.
• Legal costs
  Employers have a legal responsibility to provide a safe workplace for their employees. Failure to comply can result in hefty legal fees, fines, and even jail sentences.
• Insurance costs
  A high rate of accidents and incidents in the workplace can result in higher insurance premiums.

Looking at the costs of poor health and safety in the workplace clearly demonstrates why health and safety should be an important area of focus for all businesses and employers. Have a look at our article on the benefits of a good health and safety culture here.

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