{"id":11907,"date":"2018-03-31T17:01:45","date_gmt":"2018-04-01T01:01:45","guid":{"rendered":"http:\/\/www.palada.net\/index.php\/2018\/03\/31\/news-5676\/"},"modified":"2018-03-31T17:01:45","modified_gmt":"2018-04-01T01:01:45","slug":"news-5676","status":"publish","type":"post","link":"http:\/\/www.palada.net\/index.php\/2018\/03\/31\/news-5676\/","title":{"rendered":"Making the Case for Investing in Industrial Safety"},"content":{"rendered":"

Credit to Author: Steve Elliott| Date: Sat, 31 Mar 2018 09:00:45 +0000<\/strong><\/p>\n

\"\"In industrial operations, senior managers and company executives generally wish, and are required, to oversee a safe operation. That\u2019s why almost nobody thinks failing to invest in safety is a good idea.<\/p>\n

However, most managers lack the familiarity and expertise to justify the costs of these investments within the business model level. For example, complying with regulations is usually considered safety managers\u2019 primary responsibility. Their job is both to enforce laws and regulations on the industrial process and to reduce costs and worker insurance premiums by cutting workplace injuries and accidents. Therefore, in the eyes of many executives, safety is a necessary expense and a cost of doing business.<\/p>\n

What they don\u2019t see is that safety can also be a real revenue generator.<\/p>\n

A safe operation is one where production isn\u2019t forced to stop due to downtime, repair, or \u2013 even worse \u2013 an injury caused by incident. Less-than-compliant conditions that cause production stoppages will have a direct effect on revenue. Such occurrences, along with potential worker compensations costs or regulatory penalties, can add up to far more than the cost of prevention, i.e., the expense of installing safety systems and equipment.<\/p>\n

So sometimes, when sales are down, market conditions change and times are tough, safety can be the first business investment cut. That\u2019s why it\u2019s important for managers to convince executive leadership that unsafe production costs money and affects the bottom line.<\/p>\n

The business case for safety<\/strong><\/p>\n

Managers can make the business, i.e., financial, case for a safe operation in several ways. The first step is to increase awareness in safety standards. Not only can standards prevent loss of revenue, they can also add to the bottom line by emphasizing the company\u2019s competitive advantages. This can be done through:<\/p>\n