7 Ways Safety Performance Impacts Your Business
November 6, 2015 | Comments Off on 7 Ways Safety Performance Impacts Your Business
1. Injuries are expensive
According to OSHA, workplace injuries and illnesses have a significant impact on an employer’s bottom line. The Department of Labor estimated that employers pay almost $1 billion per week for direct workers’ compensation costs alone. The costs of workplace injuries and illnesses include direct and indirect costs. Direct costs include workers’ compensation payments, medical expenses, and expenses for legal representation. Conversely, indirect costs include training replacement employees, accident investigation and implementation of corrective measures, lost productivity, repairs of damaged equipment and property, and costs associated with lower employee morale and absenteeism.
2. OSHA citations can impose significant penalties
OSHA issues a citation in approximately 80% of its inspections. Penalties for each violation could range from $7k (for a Serious violation) to $70k (for a Willful violation) depending on the specific circumstances. Although the average citation is around $10k for per
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