IOSH is driving home the message that good health and safety can mean savings for both the business sector and the public purse.

Launched at the Honorary Vice-Presidents’ lunch at the House of Lords in May, the Li£e Savings campaign highlights the millions of pounds companies can save through better health and safety management. IOSH president Steve Granger addressed HVPs, peers, MPs and other stakeholders at the event, speaking about the new campaign and how health and safety fits into the wider business agenda.

As part of the campaign, IOSH is offering resources to help businesses save cash and, in the process, keep their workforce healthy and safe and stay on the right side of the law. The Institution is also urging the Government to take action according to a six-point plan that could save the economy billions, as well as bring down the workplace-death toll and save thousands from injury.

Steve Granger said: “Good health and safety management can make such a difference to a company and its staff. We know that it saves lives and cuts incidents of injuries and ill health, protecting people’s livelihoods in the process, by keeping them in their jobs. As a result of this, businesses also save millions as fewer days are lost.

“But we know that we could have a big impact on the national economy – to the tune of £22 billion – if the Government sits up and takes note. In a time of austerity and deep cuts, we can’t afford to ignore savings on this scale.”

Companies and organisations around the UK have already saved millions. E.ON saves nearly £12 million a year with its absence management strategy alone; Rolls-Royce saved £11 million; while Glasgow City Council and Transco each banked £4.5 million, and AstraZeneca a further £5 million.

IOSH head of campaigns Caroline Patel added: “Health and safety couldn’t be further from the old ‘burden on business’ stereotype. Today’s professionals understand that good health and safety management goes to the heart of business – done well, it can not only cut costs but improve productivity, quality, retention, motivation and reputation.

“It’s a long way from being an optional extra. Even a small annual investment in well-being or health and safety initiatives can pay big dividends.”

The Li£e Savings campaign pages at www.iosh.co.uk/lifesavings include IOSH’s six-point action plan for the Government, as well as case studies, resources and interviews.