11th Jun, 2020 Read time 3 minutes

Why health and safety is a crucial part of your company’s financial success

In a capitalist society a lot of the focus for businesses is on the strive for growth and profit, and whilst these are crucial the idea of keeping workers safe can often fall to the side-lines. Research suggests, however, that directors ignore it at their peril, as the safety and wellbeing of workers are intrinsically linked to the success of a company.

A proficient health and safety department can have a big impact on the wider aspects of the business, and we’ve outlined some reasons why.

  1. Health and Safety can work in tandem with the risk management side of the business

A lot of companies have started or are looking at how the risk management function can incorporate the wider risk management as a means of getting a wider plan and making the business’s management of health and safety more holistic. Doing this not only means you are getting people involved in safety who may not have previously considered it, but it also helps you consider the business side of the health and safety procedures you are implementing.

  1. Safeguarding of wellbeing can lead to financial and productivity benefits

Wellbeing has become a highly talked about subject in recent years with a focus on mental health being adopted by the health and safety teams in many different industries. This is important, not only from a humanistic point of view, but it can also increase the overall success of your business. Implementing wellbeing practices like regular team lunches, video calls and one-on-ones can help employees feel valued and go some way to drawing attention to any underlying issues that may be causing them to experience struggle at work.

  1. Proper safety compliance measures help you avoid costly lawsuits

Compliance is often thought of when it comes to health and safety and whilst it is important, it can be a cumbersome task which many view as having no immediate benefits. Despite the bad reputation, compliance is important and can help you prevent the likelihood of your company being involved in a costly incident. Compliance measures are also there for a reason, and they can help you keep the workplace you operate a safe environment to work in.

  1. You save costs through increased staff retention and motivation

Staff are a crucial part of any business and as a health and safety professional, many find they act as an HR function for the business. This has led to an increasing look at how the health, safety and environment your company is in can be optimised to safeguard employee morale and long term staff retention.

 

Have a look at HSE and other areas to improve the success of your company

For many years health and safety has been viewed as an auxiliary function within many businesses, an area of compliance they had to follow. However modern practices are increasingly adopting health and safety into the wider considerations of organisational performance.

This is great news for EHS professionals who may feel that they now have more of a role in their respective companies and the way they perform.

 

HSE Network
Article by: HSE Network

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