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Eight losses you incur if you don't prevent accidents in your workplace

by , 11 July 2013
Although accidents don't come with a warning sign and can happen to anyone, at anytime, you must take practical steps to prevent them from happening in the first place. To do this, you must perform a risk assessment to identify hazards and put measures in place to reduce these risks. If you don't, accidents can cost your company thousands, maybe even millions, in compensation claims. And that's just the tip of the iceberg. Here are the other losses you can incur if you don't prevent accidents in your company.

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If you overlook the importance of preventing accidents in your workplace, they'll cost you- BIG time.
Let's take a look at some of the losses you'll incur as a result.
Revealed: The real cost of accidents in the workplace
#1: Public Relations. If your accident becomes known to the media or if it happened in a public place, you'll have to do some damage control of the media's spin on what happened and why.
#2: Light duty costs. According to the Health and Safety Advisor, after an accident your injured employee's often sent back to work with an instruction from the doctor that he can only do light work. You'll not only have to find something light for him to do, but you'll also have to pay his replacement until he can return to his normal work.
#3: Emergency supplies and cleaning up materials. If the accident involved spilled chemicals or other goods, you'll have to buy a spill kit or use your existing spill kit. You may even have to pay a cleaning specialist to do the work.
#4: Product replacement. If your products are damaged during the accident, you'll have to replace them at a cost of no real profit return. You can't charge your customer double the normal price.


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#5: Overtime. If your employees work overtime to complete the disrupted work, or to replace products lost, or damaged, you'll have to pay overtime which you didn't plan on doing.
#6: Legal fees. You could be taken to court by the Department of Labour (DoL) which could cost you thousands. If you're taken to court or the DoL starts an inquiry, you might have to pay an expert to represent you.
#7: Death benefits. If your employee dies because of the accident, you'll have to pay death benefits to his dependents.
#8: Long-term disability. Your employee may be off work for a long time because of a serious disability and you'll still have to pay him.
Remember, prevention's always better than cure. So make sure you do a proper risk assessment and identify the hazards and then take the necessary steps to protect and prevent any harm to your employees and your business.
If you don't prevent accidents, these are just some of the losses you'll bring upon yourself. So ensure you avoid this by providing a safe work environment for your employees.

Click here to get the one tool that makes sure your risk assessments are 100% legally complaint...


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