A recent paper commissioned by Safe Work Australia confirms businesses that invest in workplace safety receive cost and productivity benefits that provide a positive Return on Investment (ROI).
As WorkCover NSW plans to implement changes for medium to large businesses in 2015, including Employer Safety Incentive (ESI) and Return to Work Incentive (RTWI), the benefits can increase.
Investing in Workplace Safety – there is strong evidence to support performance is improved when a business invests in workplace health and safety as well as reducing key business risks. In 2014 Australian Federal Government, via Safe Work Australia, commissioned Melbourne University (Center for Workplace Leadership) to provide a summary of the available evidence.
The links below include the detailed report which concludes businesses that invest in workplace safety will receive benefits that outweigh the investment costs and therefore a positive Return on Investment (ROI).
With proposed 2015 medium to large business NSW Workers Compensation changes to leverage the previous small business reforms, the decision by business to invest in workplace safety will add further benefits we expect to reducing workers compensation premium and related costs.
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Source: Safe Work Australia – (An Australian Federal Government body)
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