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FDRsafety Newsletter
April 2012
Generating ROI from a safety program    
By Jim Stanley
President, FDRsafety

To state the obvious, employers are in business to make money. But when it comes to safety, many companies understandably justify their programs on other grounds - a sincere desire to protect workers or an understandable need to keep OSHA at bay.


While both those motivations make excellent sense and should always be front and center, it's also important to focus on another reason: A good safety program adds to the bottom line.


I'll repeat: A good safety program adds to the bottom line.


Who says? The people who should know best: CFOs.


231 corporate financial officers at medium and large companies were asked their perceptions of how much money their organizations saved for every $1 spent on safety. The average answer? $4.41.


Here were the main areas of savings:

  • Improved productivity
  • Less workplace disruption and downtime
  • Reduced costs of training new employees
  • Lower insurance premiums

When asked to name the top benefits of an effective workplace safety program here were the answers:

  • Increased productivity (42.5 percent)
  • Reduced costs (28.3 percent)
  • Improved employee retention (7.1 percent)
  • Better employee morale and job satisfaction (5.8 percent)

The 2011 Liberty Mutual Workplace Safety Index provides a different view, estimating that the most disabling workplace injuries cost industry $50 billion a year in direct workers compensation costs.


What does this all add up to? It demonstrates that it makes good sense for organizations to take a proactive approach to safety and install a strong program without waiting for a negative OSHA inspection to force the issue.


For some tips on how to build such a program, take a look at my article, "Building a culture of safety at construction companies." 

While the article uses construction companies as an example, the principles involved apply to all companies.


And with all the talk about financial benefits, it is important to keep the true bottom line in mind: A strong safety program protects your most precious asset - your people.


Jim Stanley is former Deputy Assistant Secretary of Labor for OSHA. Subscribe to his OSHA blog or contact him at jstanley@fdrsafety.com or 513-317-5644.


Let us help keep your pipeline project safe

Pipeline projects are challenging environments and strong safety programs are key to protecting workers.


We have extensive experience in all aspects of safety in the pipeline industry and can help ensure compliance with your safety and health program, as well as the requirements of OSHA, the Federal Energy Regulatory Commission and all other regulators during construction, post-construction and project close out.


We focus on including all employees in the process, emphasizing that safety is a personal responsibility and a matter of making personal choices. Our team of professionals works with all personnel to ensure a quality job with safety as a core value. This safety awareness approach is highly successful and has been delivered to more than 400,000 workers and managers in all industries.


Our staff can provide a comprehensive safety audit of your operations, including safety program, manual and field operations. We also can provide temporary safety professionals to work at your site. Temporary professionals remain our employees. We handle all payroll, insurance and human resource matters to minimize your liability and administrative burden.


We also offer environmental inspection and consultation for pipeline projects.


Contact us for more information.


Best of the blog

Do you know the leading cause of non-fatal workplace injuries? 

Safety rewards programs may violate OSHA rules

To keep up with the latest news about increased OSHA enforcement, subscribe to our blog and have it sent automatically to your Reader or email box.  

In This Issue
Generating ROI from a safety program
Let us help keep your pipeline project safe
Best of the blog
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At the heart of FDRsafety is this simple idea: Extensive expertise and experience bring the best results.

FDRsafety is led by two nationally recognized, long-time leaders in safety: Fred Rine and Jim Stanley.

Each has decades of experience improving occupational safety and health performance at companies of all sizes, including complex multi-billion dollar, multinational organizations.

FDRsafety can meet your needs for a wide range of safety and health services, including training, OSHA compliance, safety staffing and expert witnesses.

Contact us to learn how we can help you reduce accidents, meet federal, state and local legal requirements, reduce costs, and most importantly, protect your greatest assets - your employees.