Too often in the modern workplace, employers fail to budget for workplace health and safety needs, and end up losing profit from unexpected costs like first aid training and replenishment of safety equipment.
Investing in safety can save you in the event of an incident but the true savings come in ensuring incidents are prevented. Investing in better work practices and new equipment can prevent injuries and accidents, and ultimately save you time and money. Having good safety systems also assists you in becoming a preferred supplier. Some suggestions for your safety budget include:
How many people in your organisation need refresher courses or new safety training to meet legal requirements, such as first aid training? Make a list and allow for these in your budget.
2) New equipment and repairs
Budget for the maintenance of your systems you use for work, plant and machinery. Is there a safety concern around any of the systems used? Put the cost of the fix in your budget.
3) Protective equipment
Personal protective equipment (PPE) is subject to wear and tear. Take an inventory of all your PPE and budget for repairs and replacements.
Workplace electrical equipment needs to be tagged and tested. What vehicle maintenance will be required over the next 12 months?
5) Insurance review
Review your insurances annually, to ensure you are paying the right premiums and receiving the coverage you need. It’s worth chatting to a qualified insurance broker to make everyone and everything in your workplace is correctly covered.
6) SWMS and your safety plan update
Budget the time and money to ensure your safe work method statements and safety plans are up to date. Safety plans can be created quickly via affordable apps that allow you to select the risks in your workplace, and document the controls you have in place to manage these risks.