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A large international study shows ... 

Your investment in work environment and safety pays off

The main reason many companies hesitate to invest in health and safety at work is the cost. Nevertheless, an approved study now shows that you get your money back when you invest in safety and health.

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Current figures on ROI

A large international study reviewed 26 cases covering the relationship between costs and benefits when investing in an improved work environment. This peer-reviewed study is the most comprehensive in the field for determining the economic wisdom of investing in safety and health at workplaces.

And the conclusion from the study is clear - investing in Occupational Health and Safety measures (OHS) pays off quickly. In 19 out of 26 cases, businesses recouped their investment in less than a year*.

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214€ per worker

This is the amount of money businesses make back on average in the first year after investing in health and safety measures*. Money spent on safety measures pays off quickly because of the benefits they bring, which makes this investment a smart financial decision. According to the study, the benefits that make up the 214€ are split into:

 

CHeck mark-1Avoided sick leave
This reduces the costs associated with covering for absent staff or lost work hours and is by far the biggest money saver when investing in prevention measures. 

CHeck mark-1Productivity increase
Improved safety and health lead to fewer work interruptions, which is undeniably beneficial for business efficiency and workflow.

CHeck mark-1Quality increase
Investments in safety and health contribute to higher employee satisfaction which means a more motivated workforce, a better company culture overall and an increase in the quality of the work. 

The industry with the highest pay-off

In 2023, a new study built on these findings and highlighted new details on how spending on Occupational Health and Safety (OHS) pays off financially. The study found that, on average, for every euro spent on OHS,

  • manufacturers saw a 1.24 € return,
  • transportation companies saw 2.14 €,
  • and construction businesses saw 1.34 € within the first year**.

These returns include both direct benefits, such as fewer work-related injuries and illnesses, and indirect benefits, like better employee retention and morale.

Importantly, many businesses in the study experienced a return of more than a dollar for every dollar invested, demonstrating that OHS spending is a financially sound choice in these industries.

 

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Conclusion: A smart financial decision

The collective insights from these studies make it clear: Investing in OHS is not just a compliance or ethical decision; it's a strategic financial choice with a significant positive impact on employee well-being and company profitability. By prioritising workplace safety and health, companies are not only fulfilling a duty – they're making a smart financial decision with substantial returns.

 

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Lift safely and easily with Hovmand – it pays off

Here's a quick rundown of the benefits of Hovmand lifters:

CHeck mark-1Prevents injuries: Lifting heavy items can cause back pain and injuries. A lifter does the heavy lifting for you, reducing these risks.

CHeck mark-1Reduces sick days: Fewer injuries mean fewer sick days. Your team can stay healthy and keep working without interruption.

CHeck mark-1Saves money in the long run: By avoiding injuries, you save on medical costs and lost work time.

CHeck mark-1Improves workplace morale: When employees see that you care about their safety, they feel valued and thereby happier and motivated.

 

 

 

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* Verbeek et al. (2009): A systematic review of occupational safety and health business cases. https://doi.org/10.5271/sjweh.1355

** Mustard, Yanar (2023): Estimating the financial benefits of employers’ occupational health and safety expenditures. https://doi.org/10.1016/j.ssci.2022.106008

 

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