A new study published in the Journal of Occupational and Environmental Medicine set out to test the hypothesis that safety really does increase the bottom line.
The conclusion of the study? “Companies that build a culture of health by focusing on the well-being and safety of their workforce yield greater value for their investors.”
The reasons why this is so, though not specifically studied, have been suggested.
1. Companies that manage safety well manage the rest of their business well. This simply makes sense. If you’re sloppy and irresponsible in one area, chances are you’re going to function that way in other areas of your business as well.
2. Employees who see that the company they work for are serious about the well-being and health of their employees are more likely to work harder and stay with the company longer, increasing revenue for the company.
Further study would be necessary to establish specific cause and effect links between these hypotheses and possibly find other reasons for this connection between safety and profitability but for now, it does reestablish a basic understanding that taken care of your employees will pay off in the long run.