The Importance of Accident Prevention in the Workplace

It may seem obvious that it should be the goal of employers to focus on accident prevention in the workplace. However, for those that need a little additional encouragement, here are some reasons to prioritize safety in the workplace.

Caution signs are essential to accident prevention in the workplace.

Accidents are financially expensive

Businesses exist to create profit. Most businesses are relatively low profit margin and work very hard to create that profit margin. Workplace accidents lead to extra financial expenses. They can also add costs to insurance policies through increased rates or a worse experience modification factor.

For example, if a business operated at a ten percent profit margin (which is well ahead of many businesses), they would need $50,000 in additional revenue to offset $5,000 in extra expenses created by an on the job injury. That could lead to extra hours worked by ownership, having to cut positions or hours or other difficult budget decisions.

Reduced workplace morale

There are more than just financial costs due to workplace injuries. A lack of accident prevention can reduce morale of other employees. Sometimes the morale can be reduced as a result of having to work longer hours or harder to make up for injured employees that have to miss work. It may result from financial strain on the business due to the injury. It also may arise simply because employees don’t like to see their co-workers suffer.

Recent Trends

It’s hard to argue against the importance of workplace safety. As a result, there have been recent trends by workers’ comp insurance carriers to help with accident prevention in the workplace. Carriers such as Missouri Employers Mutual, Utah Business Insurance Company and Guarantee Insurance Company offer extensive loss control services. Additionally, some carriers offered reduced cost items for workplace safety. These items include The Hartford’s Shoes for Crews incentive, incentives for a healthier workplace, weight loss programs as well as discounts on ergonomic office furniture. Missouri Employers Mutual just launched a safety grant program for their clients to help defray the costs of large one-time purchases to make workplaces safer.

Most employers want to protect their employers and focus on creating a safe workplace. Some of the reasons listed above highlight the benefit to focusing on preventing workplace accident for all employers.

Published by

Andrew Schrage

Andrew Schrage

Andrew Scharge is an Expert and leading Producer at General Liability Shop.com. AJ specializes in Workers' Compensation, General Liability and Professional Liability Insurances. AJ writes commercial insurance throughout the U. S. Prior to working in the insurance industry, AJ has been a corporate attorney and a genetics researcher. He is licensed to practiced law in Missouri and Illinois. For a commercial insurance quote contact AJ by e-mail, phone or linkedin. 888-611-7467 ext 29 andrew@insuranceshopllc.com

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