FOR YOUR BUSINESS
AS BUSINESS VALUE
CONNECTED WORKER APPS
- WHY PROCESSMAP
- WHO WE SERVE
- WHO WE ARE
There are so many things a small business owner must keep in mind as he or she tries to grow a company in its early stages. Legal paperwork, gaining a share of the customer market and finding employees that fit in perfectly are among them.
Foregoing safety management only puts your organization behind the curve at a time when it should strive to succeed. Here are five ways in which paying special attention to safety can help you do just that:
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.
“Safer workplaces experience higher productivity.”
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.
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.
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.
Smaller organizations tend to have the most issues staying out of trouble with regulatory agencies. According to Occupational Health & Safety magazine, companies with fewer than 20 employees paid $70 million in fees to the Occupational Health and Safety Administration in 2013. Conversely, entities with more than 250 workers shelled out just over $16 million.
Larger organizations commonly adopt EHS software because of its ability to keep employees informed about changes in compliance. It can also provide training tools and lesson plans safety managers can relay to the workforce in an effort to avoid fines associated with noncompliance. Small companies that incorporate better safety management will ultimately be able to avoid many of the penalties commonly levied on their competitors.
At the heart of all this change is a healthier and happier workforce, more revenue to play with and reduced spending on breaches in compliance. With all of these improvements in the business model due to better safety management, it’s easy for any small business to reach the next echelon.
Unfortunately, what many decision-makers underestimate for their fledgling businesses is safety management—specifically, they don’t realize the need for a platform or system dedicated to helping employees stay safe and operations running smoothly.