In blue-collar industries, safety is of the utmost importance. The primary concerns are ethical, ensuring that the work environment is not physically harmful for employees. Secondary concerns, and the most legally disputed concerns, are over the financial aspects of workplace safety.
Creating a safe work environment can help a company avoid bad press, prevent situations involving workers’ compensation and avoiding legal battles with local, state, and federal entities. Though a little preventative care may seem to come at a high financial cost, the long-term benefits could literally keep the business running.
Workers’ compensation
One of the costliest expenses to a company is paying for the medical treatment of an employee. Workers’ compensation cases can leave a company paying for medical costs or disability for years or decades.
In addition, the more dangerous a workplace is, the more likely companies are going to have to file insurance claims for resulting medical bills. The nature of insurance is such that when too many claims are made, insurance companies will most likely raise premiums to offset the risk involved in covering a business. A workplace that invests in worker safety can avoid having to make costlier payments down the road.
Safety lawsuits
Federal and state governments have enacted laws to establish high safety standards in the workplace. If an employee feels a company does not have safety policies or conditions up-to-date, governments encourage them to file a tip. If a government agency determines a workplace has unsafe conditions, a company may be forced to upgrade and additionally pay a fine. Not only would having good workplace safety save the company from having to pay hefty fines, but would also save the company the trouble of hiring legal assistance and court fees.