The Value of an EHS Professional
A colleague has made the following claim - and I'm wondering if it's indeed true.
"According to the Bureau of Labor Statistics, in 2019 the average cost of a single OSHA Recordable injury was $42,000.
As HSE professionals we know that's only the direct cost. The indirect cost average is 4x's the direct cost for a total of $210,000.
This is all assuming your employees' injury was average. If your HSE Professional saves you one OSHA Recordable injury a day, week, or month it totals hundreds of thousands of dollars, and depending on severity and quantity, perhaps millions. Keep in mind these average costs established by the (BLS) DO NOT INCLUDE potential civil penalties which are practically guaranteed in today's society.
The level of financial well-being, trust, morale, and cultural contributions a true HSE Professional can provide to any organization is unmatched by even that of the CEO, COO, or President combined.
This one position can not only pay their own salary they can pay the salaries of all those mentioned above. NO OTHER POSITION can make that same factual claim."
Any thoughts?
Comments (9)
Yes, I would agree the premise is true. Injuries are expensive and using the data to influence investment in safer equipment is important. We track our WC data and use it to calculate rough ROI when proposing industrial ergonomic controls.
I'd argue those numbers are somewhat inflated. $42,000 may be the case in New York and California where the cost of living is much higher than in Louisiana (where I'm from). Even if you cut the $42K in half that's still alot of savings. I once worked for a construction company and their modo was "Safety Pays" and it really does.
Yes, and your insurance broker and workers comp carrier can provide custom information that backs up these claims with real dollars spent.