The Real Cost of Work Place Injuries: What You're Not Calculating

Safe, Efficient, Profitable: A Worker Safety Podcast

In this episode, Joe and Jen cover all of the tangible costs of an injury, but dive deep into the intangible costs that injuries bring that are typically not calculated. These underlying costs can cause the start of a cycle that can end up repeating for years to come. Is your business in one of these cycles? Episode summary below:
Cost of Workplace Injuries:
This episode focuses on the cost of workplace injuries, highlighting both tangible and intangible expenses such as medical bills, management time, lost productivity, and knowledge gaps.
Management Time:
Injuries lead to additional management responsibilities, including investigations, retraining, and compensating for absent employees, which disrupts regular workflows.
Loss of Productivity:
When injuries occur, productivity is impacted. Managers often spend 100% of their time running the business rather than improving it, and the absence of skilled workers further affects operations.
Employee Morale and Retention:
Extended work hours and the stress of compensating for injured colleagues cause employee fatigue, reducing morale, increasing turnover, and lowering engagement.
Knowledge Gaps:
Injured workers often possess critical skills that cannot be easily replaced. Their absence creates knowledge gaps, especially in specialized areas like maintenance, which can lead to further risks and inefficiencies.
Fatigue and Mental Health:
Fatigue due to extended work periods and increased workloads without recovery time heightens the risk of injuries and affects employees' mental health.
Customer and Public Relations:
Injuries can lead to bad PR and strain customer relations, adding pressure to the business to maintain productivity while addressing safety concerns.
Regulatory and Legal Costs:
Managing workers' compensation claims, regulatory compliance, and potential legal fees adds to the financial burden caused by injuries.
Proactive Prevention:
The podcast emphasizes the importance of preventing injuries by improving communication, addressing risks early, and ensuring employees feel heard to avoid burnout and maintain safety.
Closing Remarks:
Hosts Joe and Jen Allen remind listeners to assess all costs (tangible and intangible) associated with workplace injuries, encouraging businesses to prioritize safety not only for moral reasons but also to maintain control over their operations.
This video is intended for educational purposes. Solutions offered are not designed to take the place of an attorney or medical professional, and should not be taken as legal or medical advice. It is recommended that viewers consult a safety consultant, medical provider or an occupational safety legal team as applicable to help navigate their specific circumstances.

Fejezetek

1. Cost of Injuries in the Workplace (00:00:00)

2. Cost of Workplace Injury Prevention (00:08:59)