Having good Health and Safety management brings a number of obvious benefits, along with several lesser-known perks. The benefits do not only affect you as the business owner or manager, but also any staff you have, along with the overall effectiveness and productivity of your company.
Benefit to the Employer
The benefits of health and safety at work act permeate all aspects of the business. Here are some ways in which an effective Health and Safety management strategy can affect your company:
- A reduced risk means that you are less likely to be penalised or shut down by health and safety inspectors.
- Reduced costs – if you have a good health and safety plan, other costs will reduce. These other costs include the cost of insurance, payment of employee work place injury costs and any costs related to improving your business environment.
- The threat of legal action is lowered. This legal action could originate from employees and the state via compensation claims and prohibition notices.
- Better reputation with the community, employees and investors. If you have a clean health and safety record you convey that you are determined to make your business work. This stands you in good stead with investors, and the community looks favourably on businesses that look after their employees.
- You will enjoy increases in productivity, as employees work better when they do not have to constantly worry about their safety.
- There is an improved ability to recruit and retain – with a well-run and safe workplace you will be more able to attract and retain talent in your business.
- Increase in profit. Failure to protect the health and safety of the people that work with you, for you, and who visit your premises, is imperative if you want your operation to continue to grow. A strong health and safety policy will help you to foster a safe and happy working environment guaranteed to give your business the best possible chance of achieving its target growth. The reduced costs etc. listed above will translate into greater profit.
Benefits for the Employee
There are also many benefits that are felt by the employee and have an overall impact on the business.
- Fewer accidents related to safety make employees feel more secure and safe in their place of work.
- Lower employee turn around and absence. Many people leave their jobs if they feel the environment is unsafe. The lower absence rates also increase productivity and can lower the costs faced by employees.