The Real Cost of an Injury

Most people realize that for every dollar that your employer pays you, he is having to spend another dollar in additional costs (insurance, equipment for you to do your job, benefits, etc…). Most people, however, don’t stop to think how much it actually costs your employer when you are injured on the job.

Here’s a quick breakdown:

Monetary Costs

  • To you
    • If you get overtime pay, you will lose that while you are off work
    • If you are seriously injured, the time off work may result in some loss wages as well.
    • You may also incur costs related to work at home that you can no longer get done and will need help with.
  • To your employer
    • Worker’s compensation claim costs
    • Medical expenses which can be very expensive
    • Insurance costs which may increase
    • Costs involved with having someone less experienced fill in your position resulting in decreased productivity
    • Uninsured property damage costs
    • Costs associated with the paperwork involved and the time it takes to fill it all out and submit it properly

Non-monetary costs:

  • To you
    • Injuries take a mental and emotional toll on you. Traditionally, there is depression and loss of self-confidence associated with injuries
    • Lost time with your family and friends
  • To your employer
    • Injuries affect everyone in the company. Other employees become more “skittish” and productivity decreases
    • Confidence in management is seriously affected
    • Morale takes time to rebuild (never underestimate the power of good morale in the workplace).

You can probably think of a few others that I have omitted here. Above and beyond the obvious cost of injuries is the hidden, unseen costs, both financial and emotional/mental.

Most accidents could easily have been avoided with a few seconds more attention, a little more time and focus. Take the time!