5 Reasons to Make Workplace Safety a New Year's Resolution

What's your New Year's Resolution? If you own or manage a business, you may want to focus on workplace safety. The U.S. Bureau of Labor Statistics (BLS) says that approximately 2.7 million workers sustain a nonfatal injury or illness each year. You can protect your business's workers from injuries by creating a safer workplace. Below are five reasons to make workplace safety a New Year's Resolution.

#1) Lower Workers' Compensation Costs

You can expect to pay less for workers' compensation if your business has a safe workplace. Most businesses are required by law to purchase workers' compensation insurance. Premiums, of course, will vary depending on the number of claims. With a safe workplace, fewer workers will file for workers' compensation, resulting in lower premium costs to your business.

#2) Lower Turnover Rate

By making workplace safety a New Year's Resolution, you can lower your business's worker turnover rate. Worker turnover rate is the percentage of workers who leave your business during a given period. Some workers won't stay with your business indefinitely. They may eventually leave in search of a different job. Making workplace safety a New Year's Resolution, however, will lower your business's worker turnover rate. It will encourage more workers to stay with your business.

#3) Improved Morale

Another reason to make workplace safety a New Year's Resolution is improved morale. It will improve the morale of your business's workers. There's a correlation between worker morale and rates of injuries and illnesses. As rates of injuries and illnesses increase, worker morale will typically decrease. For high morale, you must design a safe workplace.

#4) Protects Workers From Injuries and Illnesses

By far, the biggest benefit of creating a safe workplace is that it protects workers from injuries and illnesses. As previously mentioned, nearly 3 million workers are injured or become ill while on the job in any given year.  Not all injuries and illnesses are avoidable. Nonetheless, you can protect workers' from common injuries and illnesses by creating a safe workplace.

#5) Increased Productivity

Making workplace safety a New Year's Resolution can increase productivity. Workers who are injured or become ill while on the job may have to take time off. Even if you're able to find a replacement for them, doing so will consume your own time and resources.

There's no better time than the beginning of the New Year to focus on creating a safer workplace. It can lower your business's workers' compensation costs, lower worker turnover rates, improve morale, protect workers from injuries and illnesses and promote increased productivity.