Focus on Safety: 4 Ways Workplace Injuries Can Cost Your Business
October 06, 2020
Workplace injuries are an everyday occurrence in America. In fact, about 2.8 million nonfatal workplace injuries and illnesses were reported by private-sector employees in 2017. That doesn't even include incidents that result in fatalities or happen in public-sector jobs.
What does that mean for your business? No matter what the nature of your work, injuries and illnesses pose a real risk. Take a careful look around your workplace and ask yourself if there
are workplace hazards
that you need to address. Failure to do so could eventually impact your business's bottom line.
Insurance Premiums
It may just be a budget line item, but you're paying premiums for that workers compensation insurance you're required to have. The
higher the risk
, the more you'll pay. That means that taking measures to keep your workplace safe could start to save you right away. Multiple workers compensation claims will hike those premiums up, as well, so it can save you to keep your workplace incident-free.
Reduced Workforce
Sick and injured workers will be off the job, which leaves a vacancy on your staff. You may not be able to fill that vacancy right away, especially if the employee could recover and return. That means you'll have to operate with a smaller team, which will reduce your team's productivity, slowing down the goals you can accomplish each day.
Low Morale
Unhappy employees
aren't productive employees
. Employees who feel the workplace is unsafe may become disgruntled. Even those who aren't concerned about safety may feel overwhelmed by the extra work they have to do because an employee is on leave due to a workplace injury or illness. Whether your business is product- or service-based, this slowdown means you won't be able to accomplish as much. Over time, this will force you to lower the output you can provide. It may also cause you to lose customers who find that competitors can provide a quicker turnaround.
Replacing Departing Employees
As employees leave due to injury or concerns about safety, you'll be tasked with replacing them.
The estimated cost
to replace a departing employee varies but consider your own cost to fill a vacant position. There's the lost productivity while the position sits empty, your own time to recruit and interview candidates, and the cost to train and onboard someone new. The more you can do to keep your current team, the better.
Express Pros specializes in placing employees in a variety of environments, from office to industrial. We can help you establish a plan that will help keep your team productive and safe. Call us at (615) 441-8898 to discover how we can help you.