‘Making the Business Case for Safety Innovation’: New white paper from NSC
Itasca, IL — Because “financial constraints are a common barrier to investing in safety technology,” the National Safety Council has published a white paper that outlines how employers can calculate and leverage the lifesaving and cost-saving benefits of safety technology in the workplace.
Created through the NSC Work to Zero initiative, Making the Business Case for Safety Innovation highlights the benefits of eight key technologies – ranging from solutions for fatigue monitoring to autonomous mobile robots for material handling and sensor technology for proximity detection and collision avoidance. It also illustrates the return on investment for employers who implement them to reduce injuries and fatalities.
Along with the paper, NSC has released a Work to Zero investment calculator, which allows organizations to explore the value of each of these technologies. A free webinar set to take place May 17 will offer an in-depth look at the calculator.
Organizations that invest in safety innovation not only stand to quickly recoup their initial investments, but also experience greater efficiencies in production and quality as a result of the prevention of serious injuries and fatalities. One example is a large construction company that implemented sensor technology and, as a result, saw a nearly $1.8 million return in the fifth year alone. The savings resulted from reduced missed workdays, medical costs and wage losses, among several other factors.
“Last year, nearly 5,000 individuals were lost to preventable workplace fatalities, which is why educating small and large businesses alike on the costs saved and earned through a broader implementation of these technologies is critical,” said Paul Vincent, vice president of workplace practice at NSC. “This report ultimately provides environmental, health and safety managers a quantifiable foundation for building a business case for safety innovation, which we know saves worker lives.”
Funded by the McElhattan Foundation, Work to Zero is making innovation more accessible by helping employers explore the value of safety technology and how to determine their organization’s readiness for adopting new technology solutions.
To learn more about creating a safer workplace, register for the Work to Zero Summit & Expo, set for April 13-14 in Louisville, KY.