1. Productivity gains

Each employee plays a vital role in a small business. All-star talent is what helps companies rise to the next level through superb customer service, rock-star work or even just simply being able to do a little bit of everything with ease.

Workplace injuries mean losing the one employee that could have helped you bring your organization to the next level. Furthermore, each injury costs a company $37,000 on average, according to the National Safety Council.

Around 40 percent of chief financial officers who responded to the NSC survey went as far as to say productivity was the best benefit from a well-planned safety strategy. Taking the time and budget to implement one now could pay dividends in the future, which brings us to our second point.

2. Quick return on investment

A Liberty Mutual safety survey found all but 5 percent of C-suite executives felt workplace safety had a positive net impact on the businesses finances. Of the respondents, 3 in every 5 pegged the return on investment at $3 for every $1 spent. One out of every 10 went as far as to say $1 returned $10.

By investing in employee safety, small-business owners are rewarded with more productivity uptime and a reduction in direct and indirect costs. These outcomes are associated with workers’ compensation and new hire costs, respectively.

3. Improve employee morale

Simply put, nobody wants to work at a company where he or she feels his or her life is in danger. The Houston Chronicle reported that when organizations give workers the safety tools, training and education needed to succeed and stay safe on the job, loyalty to the company is the reward.

For instance, small-business owners that use Health and Safety software to dig through the injury report data and uncover the reason why certain incidents keep occurring will be seen as taking the extra step to ensure employee safety.