Investing in a safe workplace environment may help a company’s financial performance, a new study suggests. The study found that companies that minimize the risk of work accidents have healthier bottom lines.
The study was conducted by the employee healthcare company HealthNEXT and published in the Journal of Occupational and Environmental Medicine. The researchers concluded that investing in workplace safety correlates with higher company profits.
Companies that have been recognized for outstanding approaches to health and safety in the workplace actually outperformed the S&P 500, the researchers said.
They found that winners of the American College of Occupational Medicine’s Corporate Health Achievement Award had excess annual returns varying between 3.03% and 5.27%.
A healthier workplace keeps workers safe, reduces the number of lost days due to work injuries, and boosts worker morale. Ultimately it may also give a business a competitive advantage in the marketplace.
Michael Parsons is an Atlanta workers’ compensation lawyer representing injured workers in the metro Atlanta region and helping them recover the workers’ compensation benefits that they have earned.