occupational health HR occupational health management

The ROI of Occupational Health Management

What do you offer as perks for your employees that create a better quality of life? Some companies go over the top, and we’ve got a few examples for you from Coburgbanks.
  • Apple will contribute $20,000 for U.S. employees towards egg freezing
  • 2HB Incorporated offers each employee a $50/month grooming budget
  • Chesapeake Energy offers onsite facilities for Botox and tanning beds
  • The Institute for Integrative Nutrition offers biweekly chair massages, in-house yoga sessions and an organic (free) lunchtime prepared by a professional chef every day
What can you do if you don’t have money to burn or truly even an interest in offering these kinds of benefits (and, by the way, the Apple benefit received tremendous backlash from its female team members)? We’d recommend caring for the safety of your workers every day.
Your workers, our workers, and workers throughout the United States are the heart of business—whether small or Fortune 500, and their health and well-being is directly correlated to the health of the business. How so? Consider a few statistics recently released by the National Safety Council.
  • Employers paid $51.1 billion — nearly $1 billion per week — for direct workers compensation costs (medical plus indemnity) for the most disabling workplace injuries and illnesses.
  • Each prevented lost-time injury or illness saves $37,000, and each avoided occupational fatality saves $1,390,000.
  • Investors are increasingly using workplace safety and health measures to screen out under-performing stocks, and are showing stronger returns for doing so.
Occupational Health Management helps you care for your workers without creating exorbitant costs or unnecessary intrusion into their lives. We understand not every business wants to provide costly gym memberships, free food bars and nap pods to improve employee health. Occupational Health Management helps you maintain a safe and secure workplace, decreasing the likelihood of workplace injury and illness by screening for safety and wellness.
While some businesses are required to perform physical assessments on their workers, a quality provider can make all the difference. A physical assessment that is well-run, meets OSHA or DOT standards, and is expertly done can save your employees time as well as producing better and more consistent results. A quality provider will also be able to provide company-wide assessments on site and advise your HR team on the best way to preform said assessments. Finally, occupational health management can make you aware of the risks to workers present in your workplace. If you have contaminants in the air or noise pollution, occupational health management will make you aware of this through testing and provide advisement on how to reduce those hazards to your workers.
Each business has unique requirements for their workers, but the need for safety is universal. The ROI on safety cannot be denied. The National Safety Council provides this recommendation:
“If just one workplace injury can be avoided through an investment in safety on average it saves your company $37,000. If you know how many injuries you’ve had in your organization, some quick math will help you realize that improvements in safety can impact your financials, or at the very least free up dollars that could be spent on other fund-worthy initiatives.”
In 2019, we’re anticipating more lawsuits from OSHA, based on the precedent set in 2018. Protect your workers, your business and your bottom line with an investment in workplace safety today.
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