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Download the Slips, Trips & Falls Toolkit - Risk Insight PDF
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As the waste management and recycling industry grows rapidly in response to environmental concerns, RMP look at the significant risks to local authorities, their staff and or contractors, and members of the public.
Slips, Trips & Falls Toolkit - Risk Insight
Costs
Slips, trips and falls cost UK employers over £500 million per year.
Accidents at work can lead to a variety of visible and hidden costs for businesses. Understanding these costs is crucial for effective risk management and organisational wellbeing strategies. Here’s a breakdown:
Visible Costs
- Property Damage: Costs to repair or replace damaged equipment or property
- Legal Fees: Costs associated with legal proceedings if the accident leads to litigation
- Compensation: Payments made to employees who are injured on the job
- Fines and Penalties: Regulatory fines if the accident results from non-compliance with safety standards
- Insurance Premiums: Increased premiums due to higher risk assessments following accidents
Hidden Costs
- Lost Productivity: Decreased output due to absent employees and disrupted workflows
- Training and Replacement: Costs to train new or temporary workers to replace injured employees
- Administrative Costs: Time and resources spent on accident investigation and reporting
- Reduced Employee Morale: Impact on team morale and potential decrease in overall productivity
- Reputation Damage: Negative impact on company reputation, affecting customer trust and business opportunities
Addressing both visible and hidden costs is essential for minimising the total cost of risk and ensuring a safe and productive work environment.
Please download to read the full resource.
How can we help you?
For more advice on how we can help lower the cost of your risk, please email contact@rmpartners.co.uk
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