The Economic Ramifications Of Workplace Safety

Workplace-related injuries are more rampant than ever in the American business milieu, and figures indicate that about 40 million workers have been hospitalized due to such. Yes, this is a reliable figure and a disappointing one, considering the number of companies who try to ensure the safety of their workers. Several companies have suffered significant losses due to liability for workplace-related injuries. Profitability and workplace make strange bedfellows indeed, and this article serves as an elucidation to the aforementioned postulate.

Companies in general are caught up in achieving synergy, and for those involved in the industrial sector, synergy is predicated on constant and consistent improvement in products and best practices. They conclude that there is indeed a correlation between best practices in making good product and realizing a healthy profit margin. Unfortunately, too many companies get caught up in drive for higher profits and tend to allow workplace safety to become an afterthought.

It can be especially expensive to operate an American firm associated with manufacturing or machine operation. With workplace injuries ever so common, productivity is often compromised and company expenses further increased. But a lot of these injuries can be avoided or minimized if the so-called ?little things? are paid attention to. Most workplace injuries are preventable. Out of the many factors that play a part in here, keeping the work area safe and clean can prevent a number of injuries. The culpability is also on the workers when it comes to ensuring their own safety.

Moreover, workplace injuries put a great deal of the onus on insurance providers and health care facilities. This often forces the aforementioned health care facilities and insurance companies to recoup expenses by increasing the cost of their services, because companies are constantly paying high premiums to ensure the validity of their workers? health care plans. Everybody loses in such a situation ? consumers are encumbered by additional expense on their part, while companies deal with workplace injuries by figuratively turning the other cheek. As such, safety and well-being of workers is conveniently ignored, while the only ones who walk out fat, contented and happy from the the whole brouhaha are the shareholders.

Pundits have long been noticing that the number of jobs being sent overseas, especially industrial jobs, only keeps increasing every year. There are a number of reasons to account for this. One of the most significant reasons is that American companies are able to shave their operating costs down to a fraction of their domestic costs, by capitalizing on cheaper labor in foreign markets. Foreign governments, eager for investment, are all too willing to accommodate the interests of big western business. Unfortunately, workplace safety is largely compromised in most cases.

A company must remain pursuant to the rules of workplace safety and genuinely concerned about their staff members? health in order to ensure long-term profit. Many companies are sending jobs overseas, in order to take advantage of cheap labor and relaxed labor laws. American companies can be both profitable and safety conscious. Most injuries can be precluded in the workplace and disaster can be preempted by planning ahead and ingraining safety policies in the subconscious of every worker. Remember, a safe worker is a happy worker, and a happy worker is a productive worker.

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Source: http://www.mlmtraining.co/team-building/the-economic-ramifications-of-workplace-safety/

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