Unlock the Power of Safety: The Benefits of Proper Health and Safety | Jensten Insurance Brokers
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Unlock the Power of Safety: The Benefits of Proper Health and Safety

Implementing proper health and safety measures in your workplace shouldn’t be treated as a burden you have to carry out to avoid possible fines and prosecutions —it’s a wise investment in your business’s future. Robust health and safety practices prepare your company for growth and enhance its resilience in an unpredictable economic climate. A strong foundation in health and safety has lasting benefits that strengthen your business over time.

Each business faces unique hazards that pose risks to safety and efficiency, such as:

  • Asbestos
  • Electrical hazards
  • Gas-related dangers
  • Noise pollution
  • Slip and fall incidents

By safeguarding your employees against these specific dangers, you create a workforce that is healthier, more content, and more efficient. This, in turn, contributes to the success of your business. Read below to find out the top five ways your business can benefit from proper health and safety.

Reduced Absenses and Sick Leave

Enhancing health and safety protocols in the workplace leads to a decrease in employee downtime due to illness and sickness. When employees are in good health, they are less likely to take time off from work. Reducing the frequency of employee sick leave translates into savings on both the direct and indirect costs associated with absences.

  • Direct costs of absence include the wages of employees who are taking time off, the overtime paid to others filling in, and the shortfall in productivity due to absent staff.
  • Indirect costs of absence include the training period for substitutes, the risk of compromised service and product standards, potential business losses, and the hiring of temporary replacements.

A dedicated approach to minimising sick leave, rooted in solid health and safety practices, will not only promote better health among your workforce but also improve the success of your business.

Saving on Recruitment Costs

Minimising work absences due to health issues or accidents helps you keep your skilled workforce intact and cuts down on the expenses of hiring new staff. The process of recruiting, particularly for essential roles, incurs significant costs. Reflect on the various expenses that come with bringing on and preparing a new hire:

  • Assigning someone responsible for recruiting a replacement
  • Seeking and advertising for potential hires
  • Interviewing prospective candidates
  • Onboarding and training new hires
  • Temporary declines in productivity as new hires adjust to their roles

Avoid wasting resources on recruitment and compromising your most crucial resource—your workforce—by depending on inadequate health and safety measures in the workplace.

Lowered Insurance Costs

Upholding correct standards in your workplace health and safety initiatives can be directly linked to reduced insurance premiums. A proper health and safety plan can reduce workplace accidents, thereby lowering employers’ liability premiums. Employers’ liability insurance is mandatory cover for most business owners—it provides coverage for employees who fall ill or get injured on the job.

Yet, simply having insurance like employers’ liability, vehicle, and property insurance is not sufficient. These policies typically cover only a fraction of the costs associated with accidents. Moreover, numerous expenses arising from accidents or injuries are not covered by insurance, such as:

  • Repairs to machinery and equipment
  • Delays in production
  • Fines
  • Legal expenses
  • Loss of contracts

A plan that combines comprehensive insurance coverage with rigorous health and safety measures will help maintain low insurance premiums and maintain the well-being of your workforce.

A Stable Reputation

Years of diligent effort have gone into building a solid reputation for your business. By preventing accidents and protecting the health of your employees, you establish and uphold a reputation of care and responsibility. However, a single incident or controversy can quickly tarnish the reputation you’ve worked so hard to achieve. Such stains on your company’s image are notoriously difficult to erase and can include:

  • Fines
  • Negative public perception
  • A downturn in sales
  • Media scrutiny
  • Unwanted widespread attention

To steer clear of any potential public enquiries that follow workplace incidents, prioritise the safety and well-being of your employees and products. Effective public relations can boost your sales and lead to more business opportunities. Consistent dedication to health and safety in the workplace is key to maintaining a robust and credible reputation.

Improved Productivity

Promoting a culture of health and safety in the workplace is key to boosting efficiency. Work-related stress and accidents are leading reasons for work absences today. These incidents, whether resulting in brief, unexpected absences or prolonged sickness, can significantly affect your efficiency and sales. When employees must fill in for absent colleagues, it can lead to additional stress, potentially causing more frequent absences over time.

When employees feel more secure and content, they are able to perform their duties with greater ease and less risk. Workers will value and recognise any enhancements you make to ensure their job is safe and convenient. Such improvements in morale can lead to cost savings over time.

Like some insurance help?

We hope this Health & Safety guide has proved useful.  If you’d like some personalised insurance help, please get in touch and one of our insurance specialists will be happy to help. 

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