Even though employers and their staff do the best that they can every day to avoid workplace injuries, accidents do happen. But what a lot of people do not realize is just how often accidents happen. In fact, workplace accidents are now costing companies around $62 billion every year. Continue reading to learn more.
The Reason for Such High Costs
Workplace accidents and injuries cost so much money because they usually result in staff members losing as many as six or more workdays. In fact, employers spent billions of dollars in 2013, which is the year that stats were presented by the U.S. Bureau of Labor Statistics and National Academy of Social Insurance.
The Causes of Workplace Injuries
Ten of the leading causes of workplace injuries make up the majority of the $62 billion cost. These causes include, but are not limited to, having to make repetitive motions, being struck against or by equipment or objects, getting caught in or compressed by objects or equipment, tripping or slipping, roadway accidents involving vehicles, falling, and overexertion.
The Impact of Workplace Accidents
In addition to the high costs that businesses incur from work related accidents, the employees also suffer quite a bit. In fact, when employees become injured on the job, it impacts not only their physical wellbeing, but also their financial and emotional wellbeing.
Also, if employees have to hire professional and experienced attorneys like Lamber Goodnow Injury Lawyers, they will have to pay the legal costs associated with getting the help that they need to make sure that they are properly compensated for their injuries and time off from work.
Employers become financially burdened by having to cover all of the medical expenses that are related to the injuries, and they also have to cover a portion of the injured party's salary while they are unable to go to work during their recovery period.
Indirect costs also come into play, in addition to the direct costs of workplace injuries. These include lost productivity costs, disruptions to quality, damage to the business's employee engagement and reputation, and having to hire temporary workers to make sure all roles are still fulfilled when employees who are hurt are unable to go to work.
Taking Steps to Prevent Workplace Injuries
In order to prevent workplace injuries, business owners and employers need to be certain that proper safety gear is provided to the employees who need them. All workplaces should also be free of clutter and organized in order to prevent accidents involving falling objects or even trips and falls. And by making sure all employees are properly trained with regards to company safety procedures, many injuries can be avoided before they happen.
Workplace injuries adversely impact both employers and their employees. No one wants to get hurt on the job, and the costs are far too high to not take steps to prevent these injuries from happening in the first place. Hopefully businesses will find new ways to avoid these accidents so that they can begin driving costs back down.