Health and safety legislation has typically been seen as a drag on the economy. Many see implementing these policies as a costly endeavor. One of the reasons often discussed for China’s ability to build 19,000 miles of high-speed rail is the fact the country has fewer health and safety laws. Construction companies can hire workers and put them to use without offering all of the basic protections that slow down work in other developed countries.
But it turns out that health and safety legislation might have an overall positive effect on profitability for some companies, dramatically improving the bottom line. But how?
Consumers care a lot about the safety of products. It’s a priority, as the fallout of numerous recalls throughout history makes clear. People want to feel they can use a businesses product without being injured in some kind of way.
Take Vauxhall, for instance, the British arm of General Motors. Vauxhall takes health and safety very seriously and incorporates it into its logo on its steering wheels according to www.theguardian.com. The company trains each person in the Vauxhall factory to operate in a safe way in the hope that this will encourage them to produce better products that have customer safety in mind. A culture of safety helps to create products that consumers really want.
When a new person joins a company, they want to feel as if their health and safety matters. HR departments that train their staff, according to QuestCover.com, can better retain talented people. With a clear health and safety policy, HR professionals can improve a new employee’s experience of the onboarding process. This can encourage new employees to not want to look for another job when they just started this one. They will feel valued, want to stick around and retaining talent is essential.
Reduces Staff Absences
When workers face risks at work, they are less likely to want to come to work. Every day they spend at work in an unsafe environment increases the chance they will suffer an injury or damage themselves in some ways. Companies with excellent health and safety policies, however, discourage this form of absenteeism. When workers know they are safe and that safety is the primary objective of company management, they are more motivated to show up and do their best.
An injured employee is a disaster for a business. First, the employee has to spend time off of work to recover. During their absence, less skilled or suitable employees have to take over their duties, or you have to employ temporary staff. If the injury was the fault of the business, the worker may not return and may seek compensation. The payouts could be extraordinary. If your firm is ordered to pay out, you may also have to pay higher insurance premiums in the future. Excellent health and safety records lower premiums and keeps business expenses down.
Companies that focus on health and safety often have excellent reputations in the communities in which they operate. When you have a good reputation, people are more likely to want to work for you and consumers are more likely to buy from you.
Although implementing a health and safety program for your company may seem costly, it really isn’t. You will not only be compliant by following required policies and laws, but your employees will also know you care about their well being. They will be more productive and also strive to create products that are safe for consumers. The ultimate result – increased morale and increased profits. Now, this makes it all worth it! Here’s to YOUR success.
Carolyn R. Owens has over 25 years of proven experience and serves as a Career Strategist, Leadership and Life Coach. She is the Chairwoman and CEO of Infinity Coaching, Inc. where they help you up-level your skills so you can up-level your income. Infinity Coaching, Inc. provides one-on-one and group coaching, organizational training, and personality assessments. Carolyn is certified to give both The Energy Leadership Index Assessment and Myers Briggs Type Indicator (MBTI) Assessment. You can find out more about both assessments and other products and services athttps://www.infinitycoaching.net.