Friday, March 20, 2015

OSHA Compliance Saves Employer’s Money!



A new study conducted by business school economists and published in Science magazine came up with some surprisingly good news for even small and mid-sized employers – engaging in randomized OSHA inspections not only reduced workplace injury claims, it saved the employers an average of 26% on workers’ compensation costs (or $355,000 on average). 

The study looked at over 800 companies in the state of California and found “no evidence that these improvements [to employee health and safety] came at the expense of employment, sales, credit ratings, or firm survival.”

A link to the study itself: http://www.sciencemag.org/content/336/6083/907

By: Cynthia W. Veidt (cindy@lpvlaw.com)