cost workplace injuries

Cost of workplace injuries

Workplace injuries can often happen in a split second yet leave long term consequences in their wake. The true cost of workplace injuries can be devastating, and complex.

In terms of financial cost, according to research and data released by Work Safe Australia, workplace injuries cost Australian businesses a whopping $61.8 million per year.

But there will be more than just financial implications. In fact, there will be direct and indirect costs of accidents and injuries to companies such as loss of productivity, damage to your reputation, personal injury, on top of any financial losses.

Thankfully, there is something you can do to make sure your business is reducing the risk of workplace accidents and all the devastation that can come with these incidents.

And it all comes down to correct workplace safety and risk management.

The role of safety training within workplaces

Organisations that implement safety training into their onboarding and inductions can reduce the risk of workplace accidents. Ongoing training programs can vastly improve workplace safety and reduce the cost of workplace injuries.

For employees, contractors, and site visitors we recommend Rapid Induct as the best way to simplify your safety induction and compliance training process.

While safety training compliance will differ from industry to industry, one thing remains the same: safety training can help you to:

  • comply with regulatory demands
  • minimise incidents
  • maximise awareness
  • keep your employees healthy, happy, and productive

Safety training should apply to all roles, however individual training modules might be different depending on the specific role of the person.

It is so important to get this right and to integrate safety training as a non-negotiable part of business operations, to be safety compliant and to protect everyone.

So, if you don’t already have safety training set up for all new starters – and as part of ongoing training and development – you might need to check if you are meeting your compliance requirements for your business type.

Report any risk, anytime

As well as ongoing safety training, it’s also important that organisations encourage incident reporting and promote a culture of feeling comfortable to report incidents.

To meet compliance requirements, you can use a system such as Rapid Incident Reporting which manages incident reports in a simple yet efficient process through one real-time incident reporting system.

Being able to report incidents easily and quickly – no matter how small or insignificant they may seem at the time – is a crucial element in risk management and in reducing accidents in the workplace.

Even small incidents – or “near misses” should be reported as there might be delayed consequences or multiple “near misses” that can add up to a larger problem.

Through reporting, you’ll be able to monitor trends and view long term incidents and frequency rates. This will enable your organisation to get ahead of most risk types and assess risks in real-time.

Assess and improve each and every risk

You can also conduct an online risk assessment with Rapid Risk which allows you to quickly identify every area of your company that risks have the potential to affect. This system also classifies risks into three broad categories: ‘Strategic’, ‘Project’ and ‘Operational’.

Combining workplace incident reporting with detailed risk assessments will ensure your organisation is best placed to not only meet compliance requirements and keep staff safe but is also a place where clients or customers feel safe and happy to come to.

Reduce the cost of workplace injuries in just a few minutes

Contact us at Rapid Global and ensure your business is meeting all necessary safety requirements.

At Rapid Global, we provide safety management software to many of the world’s most respected organisations, and we are ready to help you reduce the cost of workplace injuries through smart safety training.

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