The cost of workplace accidents to the company

The lack of proper protective equipment within automated manufacturing can be costly. Everything from a fine for breaching occupational health and safety regulations to costly stoppages, not to mention the cost to those affected.

The serious consequences of workplace accidents for those affected and their families, colleagues and managers have been covered by us at Axelent in previous articles. But a workplace accident could also have catastrophic financial consequences for a company. According to figures from the European Agency for Safety and Health at Work, the annual cost of workplace accidents in the EU alone totals EUR 476 billion. As well as the emotional and financial aspects of caring for the injured person, there are a number of indirect costs, including as equipment replacement, production stoppages, fine / damages, the recruitment and training of a new employee and reduced productivity from other employees, to name but a few.

Prevention using proper protective equipment is significantly cheaper. Axelent is here to help you with this wherever you are located in the world.

 

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Indirect costs of a workplace accident:

  • Damaged machine or tools
  • Shutdown of workplace during investigation
  • Fines /damages
  • Recruitment and training of a new employee
  • Administrative costs relating to the accident
  • Reduced productivity due to less motivation among other employees
  • Negative press
  • Legal costs
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Average cost of lost time due to an accident (in France):

  • Metallurgy EUR 38,516
  • Wood, paper, textile, garments: EUR 17,035
  • Chemicals, rubber: EUR 22,734


Annual cost of workplace injuries and damage

  • EUR 476 billion (EU countries)
  • 3.9 per cent of GNP or USD 2,680 billion (in the world)

 

Sources:
The American Society of Safety Engineers
Carsat, Frankrike
European agency for safety and health at work

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