When starting up, most business owners do not have things like workplace safety in the forefront of their minds. Their biggest concern is how to get running and create a sustainable business model through profits and continuous growth.
However, these and other entrepreneurship goals are difficult to achieve if the work environment where employees carry out their daily operations is unsafe. Even as most businesses adapt to the remote working trend necessitated by the Covid-19 pandemic, their workplace safety is still core to your business.
Here’s why having a safe work environment is crucial for your success.
Reduced Stress at Work
According to studies, more than 80% of employees in the US experience workplace stress. This has led to losses of hundreds of billions of dollars per year, and the pandemic has not made it any better.
When an employee has to worry about things like whether the machine will malfunction this time or avoiding slip-and-fall accidents, they’re likely to suffer from workplace stress.
Other things like sitting for long hours without a break can also build up stress, which translates to their personal lives too.
Low Employee Turnover
Nobody wants to work in an unsafe environment. For businesses involving construction sites and manufacturing plants, employee safety is paramount. Worker injuries that happen in such places are often severe, can lead to fatalities, and costly lawsuits.
If your business is popular for reporting occupational injuries and illnesses, you’re likely to experience a high rate of employee turnover. This means both your old talent leaving the company, and new employees resigning faster than expected.
A high rate of employee turnover also means spending more money on new recruitment and training sessions.
An Employee Can Sue
Unsafe work environments lead to increased workplace injuries. When an employee suffers an injury at work, their employer’s workers compensation insurance is supposed to offer compensation for losses like medical bills and time spent out of work. This coverage also protects you from being sued by an employee who has already collected their settlement.
However, if investigations determine you were intentionally negligent, a worker can sue you with the help of a reputable work injury firm, such as Gibbs and Crivelli.
Improved Public Relations and Reputation
Consumers avoid working with businesses that don’t take proper care of their employees. Such companies are perceived as unprofessional and attract low quality business, as well as the required talent.
Having such a reputation also gives an advantage to your competitors, who have ensured a safe workplace for their employees. Beyond the market, poor public relations can also turn away potential investors and other important stakeholders.
Save Business Resources
When an employee gets injured at work, there’s so much that’s at stake for the business. Workers comp insurance may cover an employee’s compensation, while business insurance covers things like property damage.
But it does not end there.
If your company has been reporting an increased number of work injuries, your insurer is likely to hike your premiums because you present a high risk. Additionally, the case might involve some form of negligence on your side, meaning that the employee can sue you or the business instead.
Increased Productivity at Work
Scientific studies show that having a safe workplace enhances employee productivity as well. How does this happen?
An employee who’s suffered a work injury in the past or saw their colleague injured is likely to work with a lot of fear and anxiety for the unexpected. Without a doubt, this is going to affect their overall output and efficiency.
Having a safe work environment means your employees focus on what’s important, their job.