For a small or medium-sized company, unforeseen costs related to occupational health and safety may be a great burden!
Whether it is a workplace accident or a CSST intervention, you don’t want to deal with an exorbitant bill that will upset your budget. The best way to avoid any trouble? Plan your OHS costs!
Four-step forecast analysis
To perform a forecast analysis is to take into account all factors that may cause costs to balloon out of control and implement strategies to reduce their influence.
1. Identify all the risks related to your workplace
Think about the elements that may cause severe accidents. Do you work with equipment generating hazardous energies? Are your employees performing critical tasks where there is a risk of fall? Do they work in confined spaces?
2. Identify the most important risk factors
Prioritize and focus on the most dangerous elements.
3. Implement an action plan
Determine the most efficient strategies to apply. Each situation requires a specific solution. Here are a few examples: hazardous energies lockout, improving fall protection when working at heights and establishing a rescue protocol in case of confined space incidents.
4. Repeat the process
Your employees come and go, and your work environment is evolving. It is better to schedule a periodical risk re-evaluation to make sure not to miss anything!
One dollar spent is 2.2 dollars in your pocket!
It represents the OHS costs/benefits ratio. Each invested dollar will allow you to save twice as much! In summary, by avoiding unpleasant surprises, you will reap benefits.
To effectively secure your workplace, contact SPI. Our team of experts will identify the risks and propose the best solutions.
EHS Expertise Director