Implementing safety equipment, measures and rules in your business isn’t a cheap process. In fact, safety can cost you quite a lot of money if you have to invest in a lot of safety equipment, hire a safety representative and especially if you have to do some building modifications in order to create an ultimately safe and secure work environment. But even with the dramatic cost of safety equipment and modifications, you will still be saving a lot of money in the long run. Here’s how:
Reduced Chances of Being Sued By Employees for Injuries
Personal injury attorney are pretty brutal towards businesses that might not have the correct safety measures in place. If one of your employees gets injured on the job they can sue you for quite a lot of money. These injured employees can lay claim on compensation for all the following;
- Hospitalization costs
- Medical bills and cost
- The loss of income during the recovery period
- Emotional distress
- The inability to receive an income due to a permanent injury
- The cost of the lawsuit and trial
No Loss of Staff
If one of your employees get injured you also instantly become short-handed which could have a huge impact on your company if the injured employee has a unique skills set. Hiring an additional or temporary employee is also going to be costly considering the fact that you will still be liable for the salary of your injured worker.
Reduced Chances of Being Sued By Customers
Even the best and most loyal of your customers will turn against you and sue your business for an onsite injury. This isn’t necessarily because that customer might be a bad person but because everyone has a life to live, expenses to cover and injuries have a tendency to bring out the worst or the most desperate versions of ourselves.
While an investigation is ongoing, your business and the site on which injuries have been obtained might be on standstill. This it can be quite costly for your business.
Reduced Chances of Property Damage
Most work injuries usually also result in property damage to your company. Machinery your workers might be operating, vehicles they might be driving or tools they might be using could just as easily be damaged during the injury and these property items could be incredibly costly to repair.
No Loss of Time
A long and grueling trial can take weeks, even months, to fully solve. This is time you just don’t have to waist if you are running your business. With the right safety procedures and methods in place, the injury could have been avoided and you wouldn’t be in a courtroom at all.
Investigations Can Be Time-Consuming
Injury investigations can also take a lot of your time and might require lots and lots of paperwork from your side while you are trying to get the best possible outcome from the situation.
Safety is the best policy and by creating a safe working environment for your employees you could save a fortune in the long run.