Study: Workplace safety measures, inspections don't limit profits ...

The economic recession had many business leaders worried about maintaining their fiscal bottom line. Those concerns have caused many in the Illinois business community to believe that federal safety inspections and regulations unnecessarily hamstring a company's ability to turn a profit. Despite some reservations, a recently released study shows that the regulations effectively reduce the risk of sustaining a work injury without damaging the organization's finances.

Researchers at the Harvard Business School set out to investigate the concern that Occupational Safety and Health Administration safety inspections and measures only harm businesses. Their findings confirmed the belief that safety regulations do not cost firms that much and reduced the number of on-the-job injuries.

Over the course of 10 years, high-risk employers were able to reduce injury claims by 9.4 percent, according to the study. Meanwhile, that led to a reduction in workers' compensation costs by a whopping 26 percent. That means that companies that dealt with regular OSHA inspections saved an average of $355,000 in workplace injury-related costs. Not only do the safety regulations protect workers from harm, but they also help companies save money in the long run.

This study demonstrates that it's not an ethically or financially sound business decision to intentionally avoid safety standards. Employees deserve the peace of mind that comes along with the knowledge that their employers are taking measures to protect their health.

Above all, safety regulations and workers' compensation programs are designed to protect the rights of employees. In the event that an employer chooses not to implement safety mandates, including the disbursement of workers' compensation payments, a worker should consider exploring their legal rights and options to obtain the benefits that can help them through the difficult days and weeks after an injury.

Source: U.S. News & World Report, "OSHA's Safety Tests Protect Workers at Little Cost: Study," Steven Reinberg, May 17, 2012

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