Employee safety remains a vital issue for companies of all sizes, and the technical and financial worlds offer no exception to this rule. Managers need to take the steps to ensure their office and workplace stay free from hazards. Beyond keeping your employees safe, increased insurance costs and other legal liabilities are only some of the issues to consider.

What follows are a few reasons why providing a safe workplace for all your staff is vital, no matter the type of work performed at your company. Leverage these insights to keep your productivity at its highest this summer and beyond.

Many technical or financial organizations naturally focus on operating their core business. Workplace safety issues rarely become a priority, especially in a competitive marketplace. Spending too many resources on something that happens rarely – if at all – is simply a poor strategy for some.

This is the wrong approach. A mere broken arm suffered at a workplace costs a company nearly $100,000 according to Department of Labor statistics. While insurance helps somewhat, it typically won’t cover all costs, including any fines levied by a government agency.

Additionally, this doesn’t take into account the loss of productivity suffered by your organization.

Any loss in productivity due to a safety problem includes both direct and indirect components. Of course, a valuable worker gets sidelined for a period of time. This affects their current workload, as well as that of their fellow employees. Obviously, the seriousness of any injury factors into this equation.

Indirectly, a company’s reputation and office culture also suffer a hit. This especially rings true if corporate negligence played a role in the workplace accident. It adversely impacts your ability to hire and retain talented workers.

Also, your company’s success likely depends on a robust supply of project work. If your reputation suffers due to safety issues – especially when newsworthy – earning new contracts becomes more difficult. Note that some organizations require bidders to include workplace safety data as part of the bid package.

Ultimately, maintaining a strong focus on employee safety remains vital, even for companies in the technology, engineering and financial sectors. Don’t risk the damage to your organizational reputation. It just isn’t worth saving a few dollars.

If you need additional insights on employee safety and building a great organization, talk with the experts at Venteon. As one of the top technical and financial staffing agencies in Metro Detroit, we provide the candidates to help you succeed. Schedule some time with us soon!