IOSH has launched a new campaign to remind businesses that good health and safety practice can help them save serious money in these cost-cutting times.
Introducing the Li£e Savings campaign at the Institution’s annual Honorary Vice-Presidents’ Luncheon held at the House of Lords today (26 May), IOSH president Steve Granger emphasised that smart companies investing in sound health and safety management can see a significant return on investment, in terms of cash savings and a range of other business benefits.
Said Steve: “You only have to look at the scale of some of the savings companies have already made to see what’s possible – (utilities company) E.ON saved nearly £12 million in just one year with its absence management strategy, AstraZeneca saved £5 million with a new focus on rehabilitation and health promotion, and British Gas has saved nearly £2 million since it began a road-risk initiative a few years ago.”
Mindful of where he was speaking, and the presence of various peers, MPs and senior HSE representatives at the lunch, Steve also had a message for the Government: better health and safety management of UK plc could mean savings of up to £22 billion a year for the public purse.
The campaign centres on six-point action plans for government and businesses, which outline simple ways to save money – for example, by tracking how much is being lost to poor health and safety management, working out how much managing it better could save, tapping into the expertise of health and safety professionals, making sure the current austerity measures don’t damage people’s health, making use of free guidance and resources, and removing tax disincentives for employers offering rehabilitation therapies.
The Li£e Savings page on the IOSH website contains the full plans, plus a range of free resources, as well as case studies of different businesses that have improved health and safety and saved money in the process.
Added Caroline Patel, head of campaigns at IOSH: “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.”
