“Little OSHA Mistakes That Can Cost You Millions”

 

Little OSHA Mistakes Can Cost You Millions

The Occupational Safety and Health Administration (OSHA) is commonly thought of as a red tape-laden, bureaucratic behemoth government organization that stunts job growth and reduces bottom-line profits. Yet the facts state otherwise. Take a look at the facts & stats below. Some will surprise you, others will shock you, but all point to a singular, indisputable fact: OSHA actually saves companies money in the long run.

REDUCED WORKERS’ COMPENSATION COSTS
A 2012 study by the University of California and Harvard University concluded that workplace injury claims dropped nearly 10% for employers who had undergone an OSHA inspection. The same study showed an average savings of 26% for total workers’ compensation costs for the same group of employers. These statistics prove the old adage, “Safety pays in the long run.”One study showed that for every $1 spent on safety programs, $5 is saved in accident avoidance and other related savings.

MORE INSPECTIONS = MORE SAVINGS
According to some analysts, more frequent OSHA inspections would save the U.S. economy around $6 billion per year.
The general consensus is that more aggressive OSHA action would stop supervisors and workers from “cutting corners.” Even with a widespread inspection schedule, OSHA can’t prevent all accidents from happening.
Each year, workplaces fatalities, injuries and illnesses add over $170 billion in costs.

WHAT KINDS OF ACCIDENTS DOES OSHA PREVENT?
Accidents are expensive – last year, $93 million was spent on carpentry-related falls – just one part of one industry’s accident expenses!
The 3 most common OSHA standards that are violated are:
Construction fall protection
General industry hazard communication
Construction scaffolding

OSHA legislation has helped reduce the numbers of daily on-the-job fatalities in America. In 1970, the average daily death toll for American laborers was 38.Today, that number has been reduced by almost two-thirds. In 2014, there were 14 worker fatalities per day.

As you can see, these statistics show that OSHA saves employers and companies in total operating costs. And it’s not just money; numerous lives are saved as well. Becoming OSHA compliant is a worthwhile goal for any employer AND employee.

 

Advertisements

One thought on ““Little OSHA Mistakes That Can Cost You Millions”

Comments Welcomed!

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s