Occupational health and safety is essential for a sustainable working environment. Health and safety initiatives provide staff with measures to prevent injury and promote good health, minimising the risk of unwanted incidents in the workplace.
Despite the clear benefits, many employers still dismiss health and safety initiatives as nothing more than a regulatory burden. Whether it’s the time taken to train staff or the upgrading of expensive equipment, health and safety measures can deter employers from creating the safest working environment for their staff.
Health and safety incentives are influencing more employers to adopt the measures suited to their workplace, raising global standards in workplaces and prioritising employee health and safety. From staff retention to tax incentives, many employers are now seeing that a little effort goes a long way in the world of health and safety.
Today we’re looking at the different incentives encouraging employers worldwide to adopt health and safety measures and create safer working environments.
There are significant financial risks involved in workplace injuries, including compensating employees for lost working hours and paying their medical expenses. If your business is found to be violating health and safety standards, your insurer may not cover the costs. You could also face a hefty fine. In short, the cost of non-compliance is far greater than simply meeting OH&S regulations in your country.
No employer wants to be out of pocket for an avoidable incident, and, unfortunately, there are too many avoidable workplace incidents around the world every day. Health and safety compliance helps secure a business’ financial situation by minimising the risk of revenue lost on compensation.
Many countries have introduced tax incentives to further encourage employers to adopt stringent and measurable health and safety initiatives. Tax credits and exemptions help to simplify business tax and retain cashflow, incentivising more employers to stay up to date with regulations.
Stringent health and safety measures reduce the threat of legal action.
Workplace injuries can inhibit an employee’s ability to work, resulting in possible economic hardship. If the employee believes the injury is a result of the employer’s carelessness, they are within their rights to pursue legal action. When a case is brought to court, employers risk losing their financial security and business reputation.
Rebuilding a business after losing revenue and reputation is a long, complicated, and rarely successful process. Like many things in life, known consequences influence our decisions. Understanding the legal implications of not meeting OH&S regulations, more employers are choosing not to take the risk. This is raising the number of safe workplaces and reducing the potential for occupational injuries.
Employee productivity and retention
Providing a healthy, safe environment gives employees what they need to do their job the best they can. Ultimately, meeting health and safety standards are designed to protect employees and ensure they feel happy, safe and valued in their working environment.
Happy employees are productive employees, and productive employees are the number one asset to any business, large or small. Naturally, employees are healthier in a hazard-free, clean working environment. This results in happier staff, fewer sick days, and low turnover. With long-standing, happy staff, employers spend less time training new employees and more time focussing on their business.
A safe, healthy working environment is best for the business as a whole.
In business, reputation is everything. Investors, suppliers, customers, and potential employees are drawn to a business based on their corporate responsibility and public perception.
Keeping their reputation intact drives employers to minimise the risk of workplace illness and injury through health and safety measures. Many employers are going above and beyond what’s expected to boost their business’s reputation and promote their company in the best possible light.
As an effective marketing and public relations tool, a positive reputation is what all businesses strive for. Word travels fast, and businesses burdened by numerous workplace injuries will quickly have their reputation in tatters. Employers who want to see their businesses stand the test of time adopt health and safety measures from the moment they’re up and running.
Considering “The Cost Of Not”
Employers are expected to meet health and safety regulations in every sector of the workforce. By understanding the incentives, more employers around the world are staying up to date with health and safety trends, prioritising employee safety and creating a better working environment overall.
In a safe and healthy workplace environment, everyone wins.