Why Small Businesses Need to Invest in Workplace Safety

If you own a small business, chances are you have a lot on your mind. From hiring employees to managing clients to paying bills. One thing that probably isn’t on your mind is implementing office safety procedures. While no one would blame you for overlooking workplace safety, that doesn’t mean it is a good idea.

When you fail to put safety measures in place at your business, you run the risk of losing everything you have spent so many years to build. That’s because one on-the-job accident can end up costing you a tremendous amount of money.

So how can you keep your workplace safe when you know little to nothing about implementing safety procedures? Chances are you will probably need to enlist the help of a safety consulting firm. Such a firm will help make sure that you and your workers are protected in the case of an accident. While you may believe you cannot afford such an investment, here are some important reasons why you cannot afford NOT to:

  1. Even small injuries cost big money. According to the Department of Labor, if an employee breaks a bone on the job, the business owner can be looking at nearly $100,000 in direct and indirect costs.
  2. Insurance doesn’t cover everything. If you are counting on your insurance plan to pick up the tab, think again. Insurance carriers usually cover only a portion of the costs associated with on-the-job injuries.
  3. Worker compensation costs skyrocket after just one injury. Worker compensation insurance can be relatively affordable—until you have an accident. Just one claim can cause a huge spike in your premium.
  4. Injuries hurt more than an individual. A good reputation is something that takes years to build, but only seconds to destroy. When people are injured at your business because you didn’t do what was necessary to keep them safe, you can bet people are going to question your judgement.

Being a small business owner is exciting and can be very lucrative. However, it also brings with it a responsibility to keep your workers safe. And while it may be tough to shell out money for things like safety audits and training, it is well worth the money. Finally, studies repeatedly show that employees that feel safe at work are more productive than those who do not. This means that investing in worker safety will pay off in more ways than one!