Amerisure Insights Blog

Every business today is looking for ways to reduce costs and strengthen the bottom line. Before you start making cuts, however, you might want to make sure you’re looking in all the right places. One area often overlooked in the search to reduce costs is safety. Specifically, the programs, policies and procedures a company puts into place and implements for the safety of its people. According to the Occupational Safety & Health Administration (OSHA), implementing and enforcing a safety plan at your business can really pay off.
 
Four Bottom-Line Benefits to Putting Safety First. According to OSHA, there are a number of tangible and intangible returns on investment that you can expect when putting a priority on safety at your business. These include:

• Improved employee morale
• Decreased lost time
• Fewer workplace injuries and illnesses
• Lower insurance costs

 
The key is to gain top-down support from management and bottom-up implementation from your employees. The best way to ensure that, is to “walk the talk” and make it clear you believe in the importance of a safety program for everyone in your company.
 
Commit, Implement, Measure, Improve, Repeat. What you get out of a safety program depends on what you put into it. Don’t simply agree to a program – commit to it. Once you’ve implemented it and have it up-and-running, measure it. One way to do that is through inspections.
 
A 2012 study published by Science magazine examined the effect of random inspections on firms’ injury-related outcomes and performance. The study found that the number of injuries and the cost of injuries declined after inspections. In addition, the study found no evidence that the firms inspected had lower employment, sales, or credit ratings, or were less likely to continue to operate than firms that weren’t inspected.
 
As you continue to improve, repeat the process and re-commit to safety at your company, implementing what you’ve learned along the way.