Workplace injuries can have a huge impact on your business on a variety of fronts. Besides having the potential to be incredibly expensive, an injury on the job can also have a very negative impact on worker morale. When your employees are unable to view your business as a safe place to work, they may become anxious. They may be afraid to come to work and look for other opportunities elsewhere.
Workplace accidents can have a profoundly negative impact on a company’s financial situation. There are many factors that go into determining how badly a workplace injury could affect your business. Some of the main things to consider when trying to protect your business from costly workplace injuries are:
Across the United States, OSHA has specific guidelines in place to protect workers from harm. Employers are required to adhere to the standards set out in these guidelines to ensure a safe working environment for employees. Failure to follow these guidelines can result in heavy fines for a business, especially in the event that an employee is injured as a result of the business failure.
Following OSHA guidelines and creating a safe workplace protects a business from fines it may receive from this organization. Plus, it helps ensure that fewer workplace accidents happen in the first place. Obviously, the best way to avoid the financial hardship associated with workplace injuries is to prevent those injuries from happening.
When a worker is injured on the job, he has the right to file a workers compensation claim. Source: https://www.sinklaw.com/areas-we-serve/georgia/work-injuries-lawyer/
An employer’s workers’ compensation insurance will pay for the worker’s injuries, as well as any lost wages due to time off work. While this insurance protects the business against greater financial damage, more injury claims mean higher insurance rates for the business.
When an employee has a claim that goes beyond the level of coverage offered by an employer, lawyers will need to intervene. Even if a business is able to resolve the claim without going to court, there will still be many associated legal fees.
When an accident occurs, it must be investigated and an accurate record of the events must be kept. It is important for a business to do this in all cases, and the associated cost could end up saving the business money if the investigation shows that the claim is fraudulent.
On top of all of these costs, losing your employee for as long as their injury keeps them from working can be very costly to your business. Not only will productivity drop due to the loss of an employee, but productivity will decrease in all areas as other employees take over the duties of the injured employee, leaving them less time to complete their own. work.
Training of new staff
When the injured employee is due to an excessive absence of time, an employer may be forced to hire additional staff to assist him until his return. The costs of hiring a new employee can be significant. To fill vacancies that require little training, the expense may not be too great. However, if the job requires a long period of training, it can cost a company a considerable amount of money.
Not only will other employees continue to have to cover the work of the missing employee until the training process is complete, but they will also have to cover some of the work of the employee performing the training. They will be removed from their usual duties to upgrade the new employee and will not be able to cope with their usual workload.
Unfortunately, even if you do everything to provide a safe workspace for your employees, accidents will always happen. There is no way to fully guarantee that an employee will not be injured on the job. Still, there are many steps that can be taken to minimize the likelihood of this event.
Making your workplace as safe as possible will also boost morale. An unnecessarily hazardous work environment will make employees anxious and uncomfortable at work and lead to high turnover. When employees see that their employer is doing everything to keep them safe, they will be much more satisfied and less likely to be looking to leave the company.