Four Ways That Investing in Safety Programs Improves Business

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Have you ever considered implementing a safety training program, such as fall protection courses, in your work site? The greatest benefit to using fall protection training is somewhat obvious, since an average of 13 American workers succumb to a work place safety accident every day; those are accidents that could have been avoided if the proper safety precautions were followed. Safety programs such as crane training and fall protection systems make everyone more cognizant of safety procedures and reduce the likelihood of a tragedy.

However, it might come as a surprise to you that investing in safety programs also improves your business’s success. We know that as a small business owner, every dollar that you spend is money out of your pocket, which makes you hesitant to spend dollars on things that aren’t critical for getting the job done. With that in mind, take into consideration the ways that investing in safety programs puts money in your business’s pocket:

Four Ways That Investing in Safety Programs Improves Business

  1. Improved Return On Investment
    Best practices for safety also align with best practices for efficiency on the job. It makes everything run smoother and helps your project get the fullest value from your investment. This gives you more gas mileage for your investment on any particular project. In fact, according to Dodge Data and Analytics, in a poll of business who implemented official safety programs, over half of them reported that the project’s Return on Investment (ROI) improved when compared to similar projects they implemented prior to having their employees undergo safety training. And over 20% of the businesses who had an improved ROI after implementing a fall protection certification or other safety program found that the positive ROI was more than 5% better than before.
  2. Improved Company Reputation

    Company reputation has a huge impact on your business’s success. The quality of your work and amount you charge and all of the other obvious factors for success don’t matter at all if you can’t get new clients because you have a poor reputation. Having a safety accident gives you a poor reputation in your industry. No one wants to hire you when you are a safety liability, even if you are the cheapest in the business.

    On the flip side, when you invest in a safety program to ensure your employees are following the best practices while on-site at a job, it sends a powerful message that you care about the standard of excellence that you provide to a job. Of companies who implemented a safety program for their employees, almost all of them (about 82% to be exact) reported an improved reputation in their community. When you improve your reputation, you improve your clients’ faith in your services and increase your opportunity for business. This increases profits.

  3. Better Timeline Adherence

    Implementing an official safety program doesn’t just improve the ROI you get from your project. When your workers are accountable for their safe practices and follow a tried-and-true system, it makes your projects run on a time table you could set your watch to. The fact is, when unsafe practices are followed, they don’t just put your workers in physical danger (although they do), they also are disorganized and disorganization takes longer than a well-oiled machine.

    Implementing safety training and official safety protocol is so beneficial to your projects’ time management that nearly half of the respondents in the previously mentioned poll reported shorter project timelines. In fact, 25% of them were able to achieve the same project in over a week less time than before going through a safety program.

  4. Lower Project Costs

    Many business owners are hesitant to put their workers through a safety program because they assume that following a safety protocol will cost more than doing things in whatever way seems most direct in a particular situation. However, when businesses implement a safety program, nearly 40% of the time, they actually experience a reduction in operating costs than prior to the program. Some firms even save as much as 5% on the total project budget than they did prior to implementing the program. That kind of savings quickly repays the cost of the program itself, and then adds money to the bank!

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Sarah Todd

Sarah Todd

Sarah Todd, an investment banker, is a reporter and researcher for one of London’s leading media outlets. Formerly a trader and market maker at FTSE, she turned to media during the global recession. This website features some of her best and favourite articles, from all parts of the business world. Please let her guide you and your enterprise along the path to prosperity.