All business owners know that focusing on health and safety is in their own best interest. That’s how one keeps people protected and the business running smoothly.
However, the process that managing workplace health and safety implies is often regarded as a burden or, at best, another task that needs to be checked off the to-do list. The planning, the regulations, the training and the paperwork turn it into a real hassle.
Therefore, many business owners tend to leave health and safety on the back burner and only do the bare minimum in this respect. But by doing so, they fail to see the numerous benefits that health and safety can provide and miss out on the opportunity to make their business stronger and more competitive, which is something all entrepreneurs aspire to, regardless of their niche or industry.
Successful companies are well-aware that creating a culture of safety is a real game changer and can help them stay ahead of the competition in their respective industries.
Apart from ensuring the health and well-being of all the people that come in contact with the company and complying with legal requirements, this also enables businesses to build a better reputation, reduce costs and establish better relationships with all partners. Thus, a safety-first approach benefits the environment, stakeholders and the bottom line.
So, it might be time to look at environment, health and safety (EHS) management from a new perspective and pay more attention to these aspects from now on. Here’s how keeping health and safety at the forefront can turn into a competitive advantage for your company.
Attracting and retaining top talent
Hiring the right people for the right job and training them is a costly and time-consuming endeavor. Therefore, you don’t want all that effort to go down the drain by having your best employees walk out on you constantly.
Hiring new people to fill in the empty seats affects productivity levels and comes with a higher price tag than keeping the employees you already have.
Fortunately, a strong safety culture can increase employee retention and ensure this scenario doesn’t play out too often. Companies that put an emphasis on EHS standards are less likely to experience high turnover rates.
The explanation is simple: solid health and safety systems minimize the risk of accidents, reducing the possibility of losing staff members due to injuries, health issues or concerns related to workplace hazards.
Moreover, job applicants tend to favor companies that care about the health and well-being of their employees. This will make your company more appealing to job seekers and thus make it easier for you to attract the right candidates.
Improving reputation
Reputation has a direct impact on a company’s success. Companies that have a positive reputation are able to reduce marketing costs, attract more customers, build brand loyalty, and increase sales and profit.
Keep in mind that reputation is something that requires a lot of time and effort to build but can be ruined in the blink of an eye. One wrong step is all it takes for all your hard work to come crumbling down.
That’s why you need to take all the necessary precautions to keep unfortunate events at bay, and that includes focusing more on health and safety. This will help you avoid many unpleasant situations, like dealing with workplace accidents, injuries and lawsuits that can attract a lot of bad press. But it’s not just about preventing worst-case scenarios from turning into a reality.
It’s also about coming across as a company that cares about employees’ well-being and prioritizes social responsibility. If the public perceives you as an honest, transparent and forward-thinking company, you’ll have better chances to outperform your competitors.
Reducing costs
Health and safety might not be the first thing that comes to mind when looking to reduce expenses in your company. On the contrary, considering all the training, equipment and resources, it involves, this might sound like a huge expense that can leave a dent in your budget. Nevertheless, prioritizing health and safety is a sure way to save money.
Look at it as an investment that will pay off in the long run. You allocate a part of your budget to health and safety, and you’ll be saving money by avoiding the cost of accidents, legal proceedings, compensation payments, high turnover rates and other issues that can have financial repercussions.
Replacing outdated health and safety management procedures with innovative EHS solutions such as Capptions can also help a lot in this respect, as you’ll be able to streamline the entire process and get better results with less effort and resources.
Increasing productivity and performance
Boosting employee productivity and ensuring long-term business performance is a lot easier said than done. However, it’s not always necessary to overhaul all your company’s systems to get the wheels turning. Sometimes, it’s enough to focus on certain areas of your business, such as health and safety, to make a positive difference.
To put things simply, healthy employees are safer, happier and a lot more productive. Ensuring a proper work environment reduces the likelihood of health issues for all your team members. When employees know they’re in a safe space, they can focus better on their tasks and develop a more positive attitude at work.
Attracting investors
Last but not least, you should also try to analyze things from an investor’s perspective. Investors want to make sure that the businesses they support with their money are able to run their operations properly and maintain high-quality standards at all levels.
Obviously, companies that have a strong safety culture are seen as more stable and profitable, and thus they are able to attract investors’ attention and obtain the funds they need to move forward.
In today’s highly competitive business environment, you need to use all your assets to stand out from the crowd. Efficient health and safety practices can provide the advantage you need to keep ahead of the competition and lead your company to success.
