For employers, the cost of implementing health and safety initiatives can be expensive, and when they aren’t adhered to properly – they can cripple the internal economics of a business.
These costs can be divided into two sets – ‘human costs’ and ‘financial costs’; the first set focuses on the financial impact of illness or injury to an individual, whereas the second set concerns the business and the costs incurred because of an employee’s illness or injury.
In the UK, it is estimated that annually between 2015/16, 622,000 workers were injured at work, and 528,000 workers suffered a new case of ill health that they believed was brought on as a result of their working conditions. If these estimations continue to rise annually, then the financial costs to businesses could be staggering.
Together with Nifty Lifts, suppliers of access platforms to workplaces that implement stringent health and safety procedures, we assess the costs of health and safety mishaps – and how businesses can avoid them in the future to help save money.
