How much could injury or illness cost your business?
To date, 100 Australian employees have died whilst at work in 2017.
Injuries, illnesses and fatalities related to work impose both direct and indirect expenses on employers, employees and the economy. The average cost per incident in Australia $116,600. In 2012-13, occupational health incidents cost the Australian economy $61.8 billion, making up 4.1% of the GDP.
These costs include but are not limited to:
Cost of workers compensation premiums
Business’ loss of productivity
Worker’s loss of current and future income
Business’ loss of potential output
Society’s cost of providing social welfare
Table 2.2: Total cost ($ billion) and average cost ($ per work-related incident) for work-related injury and illness, Australia, 2012–13(SafeWorkAustralia.gov.au, 2017) © Commonwealth of Australia 2014
ISO 45001 is a draft for an international Occupational Health and Safety standard, designed to help companies of all sizes and industries to implement and maintain a safe working environment. The standard is expected to decrease the number of health and safety incidents worldwide, being the first OH&S international standard.
It encourages approaching OHS from a preventative angle in order to identify risks in tasks and processes, not only for the employees but also visitors and members of the public.
To learn more about ISO 45001, check out our