White Paper: Proving the Value of Safety, from Rockwell

Download this white paper to increase your understanding of the elements of risk management and the methodology of a safety investment analysis, and how safety engineers or a risk management professional can present the financial justification to help make operations safer and reduce both workplace injuries and insurance costs.

Each year, six million workers suffer from non-fatal workplace injuries, resulting in an annual cost of more than $125 billion to United States businesses.Outside the primary objective of reducing injuries to people or property, proving the value of a safety system is an ongoing challenge for safety professionals and risk managers. Many find it difficult to financially justify discretionary investments in safety-related assets and training intended to reduce work-related injuries and insurance premiums.  

Compare this to something from everyday life: investing in automobile insurance. Predicting future automobile accidents is difficult, and insuring against them may seem a frivolous expenditure for people who consider themselves safe drivers. However, it is necessary to think of the other people on the road who impact their risk of an automobile accident; insurance protects drivers not only from themselves, but also from others.

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