The 7 Benefits to Your Business of Good Health and Safety Practice

No matter what size or type of business you own, you can’t afford not to invest in health and safety. Did you know how much you could save in pay-outs from a prosecution and fines? Investing in health and safety may seem like an expensive process but it could save you thousands or even millions in the long run.  A UK study by Arinite found that health and safety fines alone cost employers 65% more than the cost of compliance. 

You will find that implementing a positive health and safety culture leads to significant improvements, including increasing productivity and profits; improving staff retention; and making significant cost savings by promoting health in the workplace and reducing sickness absence. 

Putting it simply, good health and safety practice makes good business sense. 

Prevention is key when it comes to health & safety. Injuries can be prevented by making sure your organisation is equipped with the right knowledge and skills. At ETD Training Ltd we are dedicated to ensuring that businesses are compliant with health and safety laws and legislation. Back pain from lifting is a common workplace injury. Falling from height, and injuries from trips or slips are common accidents at work and can have severe long-term effects, not only to the employee involved but to their colleagues and family. 

The safety of staff is paramount for any employer as your employees are your most valuable asset. 

Healthy employees are absent less often. Following health and safety guidelines and maintaining a safe workplace will reduce the risk of work-related illnesses mental health problems and injuries, and therefore reduce staff absences. Healthy workers are likely to recover from sickness quicker and are at less risk of long-term illness. 

Presenteeism is when staff come to work despite not being in the best physical or mental health, which causes them to perform below standard. 

According to research, presenteeism costs one and a half times more than absenteeism because it causes accidents, underperformance and mistakes. 

Employees who work in a positive, safe and healthy environment will want to keep working for you. This means you retain talented people and lower costs of recruiting and training new members of staff.

5.Improve your company’s reputation  

Word gets around fast about companies that don’t treat their staff right and have a poor history of health and safety. News about accidents and bad health and safety practices is bad public relations and can put off customers, clients, and applicants. Reputation is everything in business, and if you’re well known for safety you will be more attractive to do business with and build up a loyal customer base. 

Working in a safe environment leads to improved morale of employees and overall productivity. Through following health and safety measures, employees will be able to do their job more efficiently and stay safe - giving them greater peace of mind.

Research shows that companies with workplace wellbeing initiatives in place (eg To boost sleep & nutrition) increase engagement and productivity. 

Increased productivity equals increased profits.

Reducing absences means employers can save money on the direct costs of absences, such as paying salaries. Increased staff retention also reduces the money spent on recruitment processes. 

Save on insurance and legal costs. A good standard of health and safety in the workplace can reduce your insurance premiums, as well as the costs of accidents that aren’t covered by your insurance, such as sick pay, production delays or repairs to equipment. 

Good practice in health and safety keeps you out of court; the legal costs of poor health and safety can be high (compensation, fines) and can lead to bankruptcy, especially if you are a small business.