According to OSHA six million workers suffer non-fatal injuries every year in the US – costing businesses over $125 billion. Despite this number, some safety professionals and risk managers still struggle to justify investments in safety programs, training, and assets.
Calculating the ROI (return on investment) for safety is possible, and Liberty Mutual and the American Society of Safety Engineers calculate that on average the ROI for for safety programs is between $3 – $5 for every $1 spent. For most safety personnel the question is not so much is there a true ROI – but how to calculate it. Rockwell Automation’s Proving the Value of Safety whitepaper by Lyle Masimore details the steps to follow to create a safety investment analysis for your organization. [Read more…]