Why Bother with Health & Safety?
There are three main reasons why good Risk Management is vital for the future of your business:
01. FINANCIAL
Accidents cost money. The Health & Safety Executive (H.S.E.) estimate that for each £1 of insured costs, there are between £8 – £36 of uninsured costs.
These costs are calculated by one or more of the following:
- Loss of Production
- Time spent Investigating Accidents
- Fines & Legal Costs
- Fee for Intervention by HSE
- Replacement Staff & Re-Training
- Bad Publicity
- Increased Insurance Premiums
IMPORTANT NOTE: In many cases demonstrating sound Health and Safety practices can be instrumental in winning new business.
02. MORAL
The biggest asset of any business is the people who work for it. It is therefore imperative that these people are adequately protected. In addition to direct employees you will also have a “duty of care” to others who may be affected by your actions.
03. LEGAL
There are numerous Acts, Regulations, Orders and Rules outlining the specific requirements to correctly Manage Health & Safety in your business.
Failure to do so could result in one or more of the following:
- Prosecution leading to Fine or Imprisonment.
(Note fines cannot be insured against.) - Prohibition or Improvement Notices.
(Note the cost of these can often be high and are a direct cost to your business.) - Removal of Equipment, Articles or Substances for testing, or to be destroyed if unsafe.
- Fee for Intervention by HSE (https://www.hse.gov.uk/fee-for-intervention/what-is-ffi.htm)