WORKPLACE ACCIDENTS
The True Cost Of
Workplace Accidents
E
BY: RICH SOMMERS
STERLING INSURANCE GROUP
veryone knows that accidents
cost money. Whether it’s medical
bills, liability costs, or repair and
cleanup costs, money is going
to be going away. Nobody is
ignoring safety, but a lot of people don’t
really think about the financial cost of
accidents. According to the US Bureau
of Labor Statistics, workplace injuries
and accidents cost employers almost $62
billion in 2013. Beyond even that, what
many business owners don’t consider are
all of the ancillary costs that workplace
accidents can cause.
Consider the following potential issues
which could arise after an accident:
• Morale will be reduced
• Insurance costs could rise
• Affected employees could be absent
following the incident
A lot of businesses talk about the
importance of safety, but that doesn’t mean
they follow through with safety programs
or try to plug holes in their systems. Like
it or not, businesses only exist in order to
turn a profit. Many of those companies
work at a low profit margin and struggle
to grow that margin year after year. One
workplace accident could put the books
into the red if the business is unprepared
for it. Fortunately, making safety a priority
is relatively inexpensive to do. All it takes is
some drive and initiative.
There are three key ingredients to creating
a good safety program:
WORK AS A TEAM:
Everyone should be involved, from the top
down. Pitch ideas, make suggestions, and
solve problems together as a team.
MAKE SUGGESTIONS:
No suggestion should be ignored. Good
ideas often come from unexpected places.
Experiences that you and your employees
bring to the table will often bring with
them unique viewpoints on safety in the
workplace.
ASK QUESTIONS:
If you don’t understand an aspect of the
program or a concern that is being brought
up, don’t be afraid to ask about it. Likewise,
encourage employees to ask questions as
well.
The actual ins and outs of the program will
be unique to your company and the safety
risks you face. However, it is essential to
make safety a part of your company culture.
Regularly bring it up during meetings. It’s
your duty as an owner to ensure that your
employees are safe, and it is their duty
as employees to comply with your safety
regulations.
Prevention is the best route to take when it
comes to accidents. While insurance is an
essential aspect after the fact, it isn’t meant
to be the be-all and end-all of prevention.
You will put yourself in a much better
position if you have a game plan from the
beginning. Ready to start working on your
safety program? Feeling a bit overwhelmed
or unsure where to start? I’d love to help.
Reach out to me at 586-843-2771 or
[email protected] and let’s get
to work today. +
Rich Sommers has been professionally consulting with small business owners and Fortune 500
companies since 2003. His ability to grow relationships and trust through identifying business goals
and solutions has been the result of working with nationally recognized companies such as Hershey,
Apple Vacations, EA Sports, The Private Bank, Dow Chemical, Impact Networking, and most recently
Aflac. A proven winner at every level, Rich is very passionate about providing cost effective solutions
& service to businesses (small and large) to ensure the best level of protection for their employees. Rich
is a graduate from Davenport University and currently lives in Berkley, MI with his wife Beth, and
daughter Charlize. Contact Rich today at 586-843-2771 or [email protected] today.
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