After all, it can be seen as expensive with no apparent profit. So we may feel inclined to check off government mandates for workplace health and safety with a cursory nod.
- Do you have clean and organized rooms and passageways?
- Dry floors?
- Sturdy furniture and working equipment?
In a world of checkboxes, investing in health & safety solutions might not be at the top of the priority list. However, research shows us it should be.
In 2018, an international team of researchers mapped a 1945-2018 review of relevant companies across 12,700 indexed journals and found that some of the richest and most successful companies were those that invested in health and safety.
“Firms,” it concluded, “that invest in occupational safety often have better financial performance than those who do not ... This study’s findings underscore the financial gains firms can obtain by promoting occupational safety measures in their organisations.”
Companies have a phalanx of dreams to invest in. For most of us, health and safety comes as that very last acquisition. Meanwhile, studies show it makes sense to push it to the front of the line. Additionally, most respondents (54%) told EHS Today that the benefits of their health and safety program exceeded its cost. In the long run it’s a small price to pay for saving lives, reducing injuries, and increasing your profits.
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