Small Business Safety - It Matters!
Whether you employ 500, 50, or 15 people, safety should be a top priority in your organization. It could be argued that the smaller the business the more important safety becomes.
The average cost associated with a fall from a ladder in 2017, according to OSHA, was $62,000, when all expenses including lost wages were factored into the equation. This figure is not based on the number of employees a company employs. It is based on actual figures paid by all employers, regardless of size!
Employers of different sizes typically cannot absorb these costs equally. The smaller the business, the greater the financial strain.
Small businesses will sometimes contend that they do not have the same resources available as their larger counterparts to invest in a safety program. This includes time to spend on training, updated and safer equipment, time away from production and finances. However, even though some small business owners may find the cost of a safety and health program daunting, the benefits of the investment far outweigh the possible consequences of not doing so.
We’ve outlined seven ways, according to OSHA, that investing in safety can actually benefit the bottom line:
- Lowers workers’ compensation insurance costs
- Reduces medical expenditures
- Increase productivity
- Enhances morale
- Decreases turnover
- Saves money on overtime benefits
- Improves labor-management relationships
OSHA encourages small business owners to use their no-cost On-Site Consultation Program to help enhance their safety programs, learn about hazards in the workplaces, and discover options available to reduce injuries and maintain compliance. In addition, the NIOSH Small Business Assistance Program uses research, outreach, and prevention activities to assist businesses with fewer than 50 employees in reducing workplace deaths, injuries and illnesses. Keep your small business running by keeping your employees safe!
