Understanding the Financial Piece of the Safety Puzzle
Wednesday, October 21, 2020
10:15 AM - 11:00 AM

Successful safety professionals know that talking “safety” to senior management rarely gets traction without explaining its true value. Being able to reframe safety in dollars and cents and assess its impact on the company’s bottom line gets senior management’s attention every time! Starting a new safety initiative, installing new safety controls or implementing a training program all require financial investment. Obtaining approval for any safety project cannot be done without preparing a solid business case and showing the financial benefits. Anyone who has direct or indirect responsibility for worker safety including safety professionals, human resources practitioners and employers will find this session extremely useful. 

In building a business case for safety, participants will learn:  1. To assess the impact of workplace injuries on a business’ profitability i.e. how much sales are needed to ‘recover’ the cost of injuries 2. To determine the correlation between a company’s loss history and cost of workers’ compensation insurance using a case study 3. The pros and cons of popular safety calculators that help to determine true cost of injuries and justify investments in safety programs.

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Breakout Rooms