Are you aware of the true costs of risks associated with injury and illness in the workplace?
Posted on: June 2, 2011
British businesses are losing their competitive edge because of a failure to tackle the risks of injury and illness in the workplace, the Institution of Occupational Safety and Health (IOSH) has suggested.
A survey of over 850 businesses found that many businesses were underestimating the cost of work-related accidents and ill health, which HSE figures show cost UK businesses nearly £8bn a year, with absenteeism, low productivity and legal bills among the financial hits faced by bosses.
The HSE estimates the overall cost of health and safety failings to the British economy is £22bn, including welfare and health bills, but only 7% of those surveyed guessed this figure correctly. A third underestimated the costs 100 fold, putting the figure at just £220m.
Four in ten businesses said that health and safety was a top three priority for them in preparing for the economic upturn. IOSH said that this figure was encouraging but that many businesses are still “missing a trick”.
IOSH President, Steve Granger, said:
“When you operate in a global marketplace, and you’re trying to claw your way out of recession, a happy, healthy workforce is a driver for growth”.
“As well as the primary aim of saving people’s lives and livelihoods, good occupational health and safety can also deliver vital cost savings and help your business to grow.”
Environmental Compliance’s workplace safety consultants can assist companies in all industry sectors to help cut costs while maintaining compliance with legislation by providing just some of the following services:
Local Exhaust Ventilation System Testing and Inspection
COSHH / Exposure Monitoring Services
COSHH Risk Assessments
Hand Arm and Whole Body Vibration Testing Services
Workplace Noise Surveys
Health & Safety Consultancy
Health & Safety Training
DSE Assessments
Retained Health & Safety Support Services
Preparation of Bespoke Risk Assessments and Safe Systems of Work
Development of Occupational Health and Safety Management Systems (OHSAS 18001)
Management System Integration (ISO9001, ISO14001 and OHSAS 18001)