Business

6 Advantages of Having a Health and Safety Management System

Safety Management System

Setting up a health and management system demonstrates your commitment to organizational safety. It enhances your reputation as a responsible employer, and you get to minimize the number of potential accidents in the workplace. Here are more benefits of implementing a health and safety management system:

  • Worker Commitment to Achieve Organizational Health and Safety Objectives

Setting up a health management system involves outlining well-defined policies employees can follow.  Such policies help establish worker commitment, which is crucial to achieving health safety objectives throughout the year. Workplaces that demonstrate a significant commitment to health management systems have fewer accidents.

  • Higher Productivity

Some business owners assume that productivity is reduced as a result of implementing health and safety practices because it needs a lot of investment in time and other resources.

On the contrary, a health management system keeps your employees accident-free, ultimately improving their productivity. Injuries and illnesses cost the company large sums of cash; usually, more than the average payment for sick leave.

An organization is only as good as its employees’ wellbeing. Studies show that countries that have exceptional workplace health and safety records say Denmark and Finland are also pretty competitive in the global economy.

  • Foundation for Internal Responsibility System

A good health and management system provides the employer with a basis for enforcing self-regulation through the Internal Responsibility System. Keep in mind that workplace safety and health is a shared responsibility between employees and employers, clearly outlined under Sec 25 and 28 of the OHSA.

The Internal Responsibility System requires individuals working in a company to follow health and safety regulations based on their work profile. Thus, being part of the IRS, every individual in an organization takes the initiative on various health and safety issues. This way, they participate in solving problems while making improvements.

  • Improved Revenue Management

Health management systems are tailored to the needs of the business. As such, it gives accurate management and transactional report giving an instant feel of how the company is doing.  Also, enterprises realize savings in operating costs thanks to improved operational efficiency.  Fewer resources are required to manage operations hence improving a company’s ROI and achieving a Break-Even point fast.

  • Pay Lower Premiums

Setting up a health management system demonstrates that the company is taking steps to reduce injury at the workplace. As such, your insurer may consider you to have a lower perceived risk and charge a lower premium.

Keep in mind, paying insurance premiums for health safety is mandatory in modern litigation culture regardless of their price. This is because an insurance cover enables the company to transfer risk that may damage or bankrupt your company to a third party, i.e., an insurance company.

Having a health and safety management system shows that you have taken action to reduce illness and injury costs by at least 20-40%.

  • Adherence to Corporate Social Responsibility

CSR demonstrates a company’s ability to address social and environmental issues during decision-making processes. A health and safety management system caters to these needs by addressing the physical, mental, and social wellbeing of the employees. Also, paying attention to worker health and safety is a critical part of ethical behavior that contributes to the welfare of society.