The Hidden Costs of Workplace Accidents

Accidents in the workplace often contain indirect or hidden costs with the potential to sink a company by draining its profits. Prevent these accidents and the impact of their resulting costs by cre­ating and maintaining an effective safety and loss prevention program.

The direct costs of an accident such as medical bills, compensation for injured employees, and insurance premiums are obvious and visible. Although most of these costs are gen­erally paid by the companies insurance premiums, to some those premiums are considered to be just a “part of doing business.” But these direct costs are just the tip of the iceberg. Several studies have shown that there are many more dollars in indirect costs than the visible.

Most companies are unaware of the hidden costs generated by a single accident because those expenses are not immediately obvious or easily identified. They are less predictable, harder to track and more difficult to control. These hidden costs are ultimately paid for out of company profits.

Indirect costs can include but are not limited to;

Lost Productivity

Interrupted work schedules

Costs to train new workers

Interruption of service to customers

Lost sales

Lost revenue

Litigation fees or fines

Help keep your company strong by looking at your business. See where accidents are likely to occur. Be proactive in preventing workplace accidents by establishing a safety program that educates workers in accident and injury preven­tion.

Every accident prevented will save your company money – money that will remain in profits. An ongoing safety program is your best protection against the financial impact of a work­place accident.

For more information please call 866-362-2691 or e-mail us at This e-mail address is being protected from spambots. You need JavaScript enabled to view it or visit our website at www.westernfirstaid.com