A safe and healthy work environment returns so much more on your investment than lower workman's comp insurance rates. It turns out, insurance benefits are just the tip of the iceberg.
Everyone earns dividends on a safe, healthy work environment:
• Safety pays workers
A safe, healthy work environment protects workers from the pervasive nature of on-the-job injury, of which the trickle-down-effect can be immense: Unexpected healthcare costs from uncovered expenses; loss of career and income; loss of physical and financial well-being; family and relationship stress; mental/emotional issues; pain and suffering; and even loss of life.
• Safety pays employers
A safe, healthy workplace offers tremendous value, lowering injury/illness costs, reducing absenteeism and turnover, boosting morale (and subsequently) efficiency, productivity, and quality. It offers an especially impressive return on investment for small businesses, wherein a single injury could result in financial ruin.
• Safety pays everyone
In a positive work environment that attracts quality employees, company loyalty, improved employee retention (including more rapid return-to-work following illness/injury), and in turn higher quality goods, services and positive community relations.
A wise investment
For every dollar spent on safety and health programs, employs can save $4-6, and reduce injury and illness expenses 20-40% according to OSHA.
What is workplace injury and illness costing your business?
• Compensation for work not performed.
• Increased workman's comp insurance rates.
• Production losses.
• Equipment damage.
• Reduced product quality.
• Suffering workplace morale.
• High turnover.
• Hiring and training headaches.
• Lost work time.
Don’t let your workman's comp insurance rates fall victim to preventable circumstances. Safety is good for business. Make a change with the help of Minnesota Comp Advisor today.