Safety Doesn’t Have to Be a Victim of a Budget Chopping Block
Whether a recession is looming or not (no one seems to agree currently), we all know the economy isn’t booming, and many companies are cutting costs where they can.
Unfortunately, safety programs and efforts are often the target of cost-cutting measures, as they are viewed as cost centers (versus revenue generators). And while it’s true that safety doesn’t make money, it can certainly save an employer a huge amount of money due to injuries and other consequences of poor safety.
For agents, right now is the perfect time to support your clients’ safety efforts, especially if they are cutting back internally. If you can provide something the client is missing or taking away, your value skyrockets. This blog will examine why an economic downturn hurts workplace safety, the true costs of poor safety culture, and how you can help.
There are many ways that budget squeezes can hurt safety efforts in an organization, including:
In fact, a Harvard Business Review study found that in companies struggling to hit their revenue goals, there were 5-15% more workplace injuries, for all of the reasons listed above.
Reducing or cutting safety programs in any way can have much greater financial (and human) consequences than the cost of simply maintaining a strong safety culture. As one OH&S article proclaims: “If you think safety is expensive, try an accident!”
These facts likely won’t come as a surprise to you as an agent, but can be quite staggering when considered together.
All these factors together open up a tremendous opportunity for you as an agent, both to build stickiness with your current clients and grab a prospect’s attention.
Insurance is important, of course, but insurance can’t prevent an injury or fatality from occurring. Instead, you can help employers plug their safety gap by offering a comprehensive safety training program like AutomateSafety.
Want to learn more about how AutomateSafety can add immense value to your clients and help you unseat any incumbent? We’d love to have a strategy discussion!
Here’s what we've been up to recently.
From us to your inbox weekly.