{"id":928,"date":"2021-11-05T00:00:00","date_gmt":"2021-11-05T04:00:00","guid":{"rendered":"http:\/\/compliance-signs.local\/the-true-cost-of-workplace-injuries\/"},"modified":"2022-09-28T14:35:35","modified_gmt":"2022-09-28T18:35:35","slug":"the-true-cost-of-workplace-injuries","status":"publish","type":"post","link":"https:\/\/www.compliancesigns.com\/blog\/the-true-cost-of-workplace-injuries\/","title":{"rendered":"Beyond Workers\u2019 Comp: Understanding the True Cost of Workplace Injuries"},"content":{"rendered":"\n<p>You have a program in place to help prevent injuries in the workplace. That\u2019s a benefit to your employees as well as your bottom line. But the truth is, most employers don\u2019t really understand just how much an employee accident or illness really costs.<\/p>\n\n\n\n<p>The first thing you think of is a workers\u2019 compensation claim. According to the National Safety Council, the <a href=\"https:\/\/injuryfacts.nsc.org\/work\/costs\/work-injury-costs\/\" target=\"_blank\" rel=\"noopener\">average cost for worker\u2019s comp claims<\/a> combined in 2019-2020 was $41,353. That\u2019s a hefty chunk of change, but the reality is that it\u2019s only a fraction of the true cost.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Additional Costs of Workplace Injuries<\/h2>\n\n\n\n<p>Understanding the true cost of workplace injuries means looking beyond the obvious. There are a number of hidden ways that money is lost when someone gets hurt on the job. Here are a few to consider:<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Workers\u2019 Comp Insurance<\/h2>\n\n\n\n<p>Workers\u2019 compensation is the first thing that comes to mind when an employer imagines a workplace injury, and for good reason. The average cost for all claims is more than $40,000, as we mentioned above.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Time Lost<\/h2>\n\n\n\n<p>When an accident occurs, the first thing that happens is everything comes to a screeching halt. You have to find out what happened and assess the affected area and machines before you can continue working. The people who respond to help the injured worker, as well as the worker who is injured, are all on the clock and that\u2019s time lost.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">OSHA Fines and Enforcement Actions<\/h2>\n\n\n\n<p>Depending on the nature of the incident, there may be an OSHA investigation. If OSHA finds that your company was not safety compliant, this could lead to hefty fines. The standard fine for a safety violation is just under $14,000, but if OSHA finds more than one, that number can escalate quickly.<\/p>\n\n\n\n<p>In 2019 a forklift driver at a wholesaler in Texas was injured on the job. OSHA looked into it and found significant safety violations including improper training for forklift operators and failing to ensure that daily forklift inspections were performed. By the time OSHA was done, the company was facing a $164,802 fine.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Recovery of Lost Production<\/h2>\n\n\n\n<p>When one of your workers gets hurt, that means they can\u2019t stay on the job and be productive. Business must go on, though. Hiring and training temp workers to fill that position, paying overtime for others to cover, or simply accepting lower production volumes all create added costs for the employer.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Secondary Human Resources<\/h2>\n\n\n\n<p>Some workplace injuries are more complex than others. If a claim is disputed it could lead to more expenses. Legal counsel could be brought in to help with a court case. You might need 3rd party consultants to help out. Or, an independent medical examiner could be needed to verify the injury. These secondary human resources can add up very quickly and become a major cost factor for the employer.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Staff Administrative Time<\/h2>\n\n\n\n<p>How much time does your human resources team spend working on the claim? Your supervisors have to inspect the area, rework schedules, hire and train more help. There is also documentation to complete and possibly an investigation. All these things create unplanned employee man-hours which means more money peeling away from the bottom line.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Bump in Workers\u2019 Comp Premiums<\/h2>\n\n\n\n<p>A business\u2019s workers\u2019 compensation premiums are based on an algorithm that essentially rates the business\u2019s safety score called your experience modification factor. Essentially, it looks at the cost of your claims over the past three years and compares them to other similar businesses. If you\u2019re showing fewer claims and lower costs, you\u2019ll be rewarded with a lower premium. More claims and higher costs lead to higher premiums. So, every workplace injury can potentially contribute to higher worker\u2019s compensation premiums for the future.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-make-a-safety-investment-in-accident-prevention-to-reduce-the-cost-of-workplace-injuries\">Make a Safety Investment in Accident Prevention to Reduce the Cost of Workplace Injuries<\/h2>\n\n\n\n<p>Workplace accidents are expensive any way you look at them. While you can\u2019t eliminate them entirely (we\u2019re all human, after all) you can reduce them by implementing a solid safety program. That means making a minor investment in <a href=\"https:\/\/www.compliancesigns.com\/products\/signs\/all-compliance-signs\">safety signs<\/a>, proper <a href=\"https:\/\/www.compliancesigns.com\/c\/ppe-personal-protective-equipment-signs\">PPE and signage<\/a>, and personnel hours to create a safety program that keeps your employees protected, healthy and on the job. It\u2019s a lot more affordable and a lot less stressful than dealing with repeated workplace accidents. When you consider the true cost of workplace accidents, it\u2019s worth a little money now to avoid the full cost of workplace injuries later.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>You have a program in place to help prevent injuries in the workplace. That&rsquo;s a benefit to your employees as well as your bottom line. But the truth is, most employers don&rsquo;t really understand just how much an employee accident or illness really costs. The first thing you think of is a workers&rsquo; compensation claim. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":573,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20,420,130,143],"tags":[],"class_list":["post-928","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial-construction","category-office-retail-hospitality","category-safety-news","category-safety-tips"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Understanding the True Cost of Workplace Injuries<\/title>\n<meta name=\"description\" content=\"Do you know the true cost of a workplace injury? Worker\u2019s comp claims are just a fraction of the true total. Find out what else it costs you.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.compliancesigns.com\/blog\/the-true-cost-of-workplace-injuries\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Understanding the True Cost of Workplace Injuries\" \/>\n<meta property=\"og:description\" content=\"Do you know the true cost of a workplace injury? Worker\u2019s comp claims are just a fraction of the true total. Find out what else it costs you.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.compliancesigns.com\/blog\/the-true-cost-of-workplace-injuries\/\" \/>\n<meta property=\"og:site_name\" content=\"SafeWork Insider\" \/>\n<meta property=\"article:published_time\" content=\"2021-11-05T04:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-09-28T18:35:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.compliancesigns.com\/blog\/wp-content\/uploads\/2022\/03\/cash-fan-feature.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"358\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Stefen Phelps\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Stefen Phelps\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.compliancesigns.com\\\/blog\\\/the-true-cost-of-workplace-injuries\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.compliancesigns.com\\\/blog\\\/the-true-cost-of-workplace-injuries\\\/\"},\"author\":{\"name\":\"Stefen Phelps\",\"@id\":\"https:\\\/\\\/www.compliancesigns.com\\\/blog\\\/#\\\/schema\\\/person\\\/fd5850ae993a236fdc8d72a352f6ddfc\"},\"headline\":\"Beyond Workers\u2019 Comp: Understanding the True Cost of Workplace Injuries\",\"datePublished\":\"2021-11-05T04:00:00+00:00\",\"dateModified\":\"2022-09-28T18:35:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.compliancesigns.com\\\/blog\\\/the-true-cost-of-workplace-injuries\\\/\"},\"wordCount\":753,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.compliancesigns.com\\\/blog\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.compliancesigns.com\\\/blog\\\/the-true-cost-of-workplace-injuries\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.compliancesigns.com\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/03\\\/cash-fan-feature.jpg\",\"articleSection\":[\"Industrial \\\/ Construction\",\"Office \\\/ Retail \\\/ Hospitality\",\"Safety News\",\"Safety Tips\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.compliancesigns.com\\\/blog\\\/the-true-cost-of-workplace-injuries\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.compliancesigns.com\\\/blog\\\/the-true-cost-of-workplace-injuries\\\/\",\"url\":\"https:\\\/\\\/www.compliancesigns.com\\\/blog\\\/the-true-cost-of-workplace-injuries\\\/\",\"name\":\"Understanding the True Cost of Workplace Injuries\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.compliancesigns.com\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.compliancesigns.com\\\/blog\\\/the-true-cost-of-workplace-injuries\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.compliancesigns.com\\\/blog\\\/the-true-cost-of-workplace-injuries\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.compliancesigns.com\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/03\\\/cash-fan-feature.jpg\",\"datePublished\":\"2021-11-05T04:00:00+00:00\",\"dateModified\":\"2022-09-28T18:35:35+00:00\",\"description\":\"Do you know the true cost of a workplace injury? 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