Health & Safety has a fundamental impact on the bottom-line of a business. Whether you are an employer or an employee, it is important to understand that there is a direct link to your business values and operations. It is critical to understand:
Hazards can be found in every workplace.
In the Service Sector, often the risk perception among businesses is not exceptionally high as is typical in workplaces with manufacturing or machinery in use. Though the hazards in the service sector are at times less visible, the impact on your business can be just as disruptive, painful and costly.
| Direct Costs: | |
|---|---|
| Total salary (12 month period) | $25,000 |
| Total Salary ÷ Productive Days = Wage Cost per day | $25,000/252 days = $99/day |
| Total Lost Days per Accident x Wage per Day | 5 days x $99 |
| Total Direct Cost | $495 |
| Indirect Costs (5 x the Total Direct Costs): | $2475 |
| Direct Cost: | $495 |
| Total Cost of Accident: | $2970 |
At a 10% profit margin, $29,700 in sales would need to be generated to cover the cost of this one accident.
Wouldn't it be better to put simple prevention strategies in place?
As a business owner, you have a legal obligation to recognize and control hazards in the workplace. A hazard is anything that poses a danger and can cause injury or illness in people or damage to property in your workplace.
A hazard may occur from a staff member's actions or from their working conditions. As a business owner, you must take every reasonable precaution to reduce all possible hazards in your business.
When you protect your staff from harm, you also protect yourself from:
Prevention is a key aspect of workplace Health & Safety, both for the direct savings of accident prevention and for the indirect benefits for your business including:
It's time to change your dust mask when the filter is clogged and breathing is difficult.
