Well-crafted worksite safety programs can generate considerable ROI and actually contribute to the financial health of the organization. Workplace injuries remain common in the construction space, despite the advancement of environmental health and safety technologies and techniques.

Businesses in the sector reported 2.8 million nonfatal workplace injuries and illnesses in 2017, the latest year for which data from the Bureau of Labor Statistics is available. More than 920 of these incidents resulted in death. Worse yet, analysts for the National Safety Council deemed the majority of these accidents preventable.

So, why are many builders failing to put into place seemingly essential precautionary measures into place via technology-driven safety initiatives? The answer: A perceived lack of return on investment.

Construction companies navigating the modern marketplace must prioritize spending, and EHS operations often land low on the fiscal totem pole. In reality, well-crafted worksite safety programs can generate considerable ROI and actually contribute to the financial health of the organization. Here are some examples.

Lower Compliance Costs

Adhering to Occupational Safety and Health Administration regulations is neither easy nor inexpensive.

Construction firms set aside significant amounts of time for compliance-related activities, many of which center on manual processes. These critical exercises can drain cash coffers. Construction companies with formalized worksite safety programs based on cutting-edge EHS technology often dodge these costs by automating compliance-related administrative actions. This not only bolsters back-office productivity but also facilitates more responsive compliance operations, making it easier for the business to react to sudden regulatory shifts which unfold routinely.