Be warned: Accidents are more expensive than safety equipment

Ashley Churchyard, Fsp Business, 15 Aug. 2014

Tags: health and safety budget, health and safety, workplace accidents, safety equipment, health and safety expenses

Take a look at your health and safety budget. How much money have you allocated for safety equipment? R5 000? R2 000? R1 000? Less?

The next question you must ask yourself then is what kind of safety equipment can you realistically buy with that money?

If you buy cheap safety equipment, or don’t buy it at all, you’re on a one way road to serious workplace accidents.

And trust me, that’ll cost you a thousand times more than the safety equipment. Let me explain...


Here’s what good quality safety equipment could cost you

Let’s say, to put all the right safety equipment you need in place will cost you R100 000. This safety equipment includes PPE, protective barriers, warning signs and machine guars. 
This safety equipment will last between a year and five years depending on the equipment depending on the equipment, while fixed safety equipment could last up to ten years.
So when you consider the cost you have to pay over that amount of time, it works out to a much small amount per year.
But if you don’t have that safety equipment and it leads to serious accidents, you won’t be so lucky...
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Here’s what serious workplace accidents could cost you

If you don’t invest in good safety equipment it leaves your employees vulnerable to serious accidents. And serious accidents equal serious injuries. 
When this happens, you have to stop everything. 
You must investigate, ensure your injured employees get treatment and compensation from COID. Then there’s the damage to company property you must pay to fix or replace. And then the possible risk of a legal case against your company.
By the end of this you could easily lose R100 000 to just one serious accident. And because you still don’t have safety equipment in place, there may be four more serious accidents that year. That’s R400 000. 
And on top of that, all these accidents mean a DoL inspector will most likely pay you a visit and shut down your whole company until you fix the problem. That could cost you everything!
So, in comparison, that R100 000 on safety equipment is a bargain. Ensure you include it your company budget today!

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