Creating a safe and healthy work environment is not only a legal obligation for businesses but also a strategic investment in their financial future. Occupational health and safety (OHS) systems are pivotal in managing workplace hazards and risks, ensuring employees can perform their duties without unnecessary exposure to danger.
The financial impact of workplace safety
Aletta Collins, an expert in occupational health, emphasises the critical importance of robust health and safety measures. She states, 'Occupational health and safety systems such as ISO 45001 support employers in effectively managing workplace health and safety. Employers are legally obligated to ensure that their employees can perform their duties without being exposed to hazards that may negatively impact their health and safety at work, thereby preventing losses from incidents and accidents.'
Investing in a comprehensive health and safety programme can prevent significant financial setbacks for businesses. Aletta explains, 'Businesses frequently suffer financial setbacks because of workplace incidents and accidents; these costs have a direct impact on company profits. These losses include expenses like legal fees, penalties, compensatory damages, time spent on the investigation, missed output, and impact on the brand image and consumer loyalty.'
The moral and ethical imperatives
Beyond financial considerations, there are strong moral and ethical reasons for prioritising workplace health and safety. Ensuring workers return home safe and healthy at the end of each day is a fundamental responsibility. As highlighted by the Institution of Occupational Safety and Health (IOSH), good health and safety management also leads to a more efficient and productive workplace by reducing absences and downtime caused by illness and accidents.
Enhancing employee performance and morale
Ignoring health risks in the workplace can severely impact employee performance and morale. Aletta notes, 'When health risks are ignored, it will impact the performance of employees, putting them at risk for occupational injury and disease. Consumer confidence suffers as it may be perceived that the company does not prioritise people’s well-being. This, in turn, can result in unnecessary risks for employees and, in some cases, the community.' Aletta adds, 'When employees feel secure and safe, their morale improves, and they have confidence in their employer’s ability to protect them from exposure in the workplace.'
Building a strong safety culture
Developing a robust safety culture within an organisation goes beyond compliance with regulations; it involves fostering a collective commitment to prioritising health and safety in every aspect of the workplace. Aletta describes, 'Health and safety culture is a rich tapestry made from an organisation's beliefs, actions, and attitudes towards safety rather than just a collection of laws. It can be summed up as everyone's shared commitment to putting health and safety first in every aspect of the workplace.'
This commitment not only enhances the well-being of employees but also bolsters the company's reputation and financial stability. A strong safety culture can lead to fewer accidents, reduced absenteeism and increased productivity, ultimately contributing to the long-term success of the business.
The ROI of health and safety investments
Investing in OHS is a strategic decision that yields substantial returns. By proactively identifying and mitigating health risks, businesses can avoid costly legal liabilities and ensure compliance with the Occupational Health and Safety Act and its regulations.
Aletta says, 'Putting money, time and energy into a health and safety programme can be viewed as a long-term investment for the company.' This investment not only safeguards employees but also protects the company from financial losses, enhances productivity and strengthens consumer confidence.
The broader benefits of safety investments
Investing in health and safety goes beyond compliance and financial savings. It contributes to sustainable business practices and corporate social responsibility. Fostering a culture of care and accountability directly contributes to business success. Safe work environments promote employee well-being and morale, leading to increased productivity. Additionally, businesses that prioritise health and safety are perceived as responsible corporate citizens, which can bolster their brand reputation and attract top talent.
For more insights on how to manage workplace risks and create a safer environment for your employees, listen to our podcast episode 'When accidents happen at work'. Tune into A Better Place of Business on iono.fm, Spotify, or Apple Podcasts.
By understanding and addressing the unique challenges businesses face, we empower businesses to create safer workplaces and protect their employees. Talk to us about how we’re able to manage risks at your workplace. Email hello@lifehealthcare.co.za, call (+27) 86 123 4123 to speak to one of our business development managers, or visit our website.
The information is shared on condition that readers will make their own determination, including seeking advice from a healthcare professional. E&OE. Life Healthcare Group Ltd and Life Health Solutions do not accept any responsibility for any loss or damage suffered by the reader as a result of the information provided.
