Very few companies know how much it costs them when one of their employees is injured. Even fewer companies recognize the significant impact a fatality or catastrophic accident can have on its brand, its stock price and its profitability. This session will examine the hidden costs and corporate impact of a poor safety program and how to protect your company's image and bottom line. Many times, safety and risk management fail to communicate those costs in methods that management recognizes. Methods to measure and compare cost of accidents and risk vs. financial performance elements such as gross revenue; gross profit, net profit and pennies per share will be discussed. This session will also explain how safety professionals can articulate to corporate officials and directors the importance of safety and how it can be a profit center as well as achieve operational excellence for the company. The program will discuss best practices and strategies to avoid or quickly recover from business losses and bad publicity as a result of a catastrophic accident occurring at your work place.

Learning Objectives

  • Understand the hidden costs associated with a catastrophic accident and the true cost of an injured employee

  • How to effective deal with fatalities and catastrophic accidents and return the facility back to normal operations

  • Understand best practices and strategies for protecting and restoring your company's brand and stock price after a fatality or catastrophic accident

  • Be able to speak the C Suite language to demonstrate the importance of safety on the company's image and bottom line

This content is only available via PDF.
You can access this article if you purchase or spend a download.