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Good health and safety management makes good business sense

Posted: 07 June 2011

Author: John Neil

Good health and safety management not only stops people getting killed, injured or ill at work it makes good business sense. Properly managed health and safety can result in saving vast amounts of money and thus adding to the bottom line of the company.

Some companies have already saved millions of pounds:

• E.ON saved nearly 12 million in one year with its asbestos management strategy
• British Gas has saved nearly £2 million with its road-risk initiative and
• Astra Zeneca saved nearly £5 million with a focus on rehabilitation and health promotion

The Institute of Occupational Health and Safety (IOSH) recently highlighted the above to coincide with the introduction of their Li£e Savings campaign, which is a new campaign to help business understand that good health and safety practice can help save money in these financially trying times.

The campaign was launched by IOSH president Steve Granger at a function held at The House of Lords in late May, where he stressed that sound health and safety management can see a significant return on investment in terms of cash savings as well as other business benefits. Steve stated that better managed health and safety could mean savings of up to £22 billion per year for UK PLC a message that was obviously not lost on the various peers, MP's and HSE representatives attending.

The main aims of the campaign are:

• To help business get the most out of their health and safety management for example by working out how much poor management is costing and how much managing it better would save
• Ensuring IOSH members throughout the workforce are used to the best of their ability and
• Get the government to take action by ensuring austerity measures do not damage peoples health, encouraging the use of free resources and removal of tax disincentives for employers offering rehabilitation therapies.

The Li£e Savings page on the IOSH web site contains the full plans as well as a range of free resources and case study examples.

Health and safety is not a business burden but something which aids productivity, quality, innovation, reputation and business retention when done well. When it goes to the very core of the business a small investment in good health and safety management can reap big rewards.