Citation

Reiman A, Räisänen T, Väyrynen S, Autio T. Int. J. Occup. Safety Ergonomics 2019; 25(1): 153-160.

Affiliation

Oulu Energy Group , Oulu , Finland.

Copyright

(Copyright © 2019, Centralny Instytut Ochrony Pracy - Państwowy Instytut Badawczy, Publisher Informa - Taylor and Francis Group)

DOI

10.1080/10803548.2018.1462990

PMID

29633907

Abstract

This study provides a case example of an energy company that prioritised occupational safety and health and accident reduction as long-term, strategic development targets. Furthermore, this study describes the monetary benefits of this strategic decision. Company-specific accident indicators and monetary costs and benefits are evaluated. During the observation period (2010-2016), strategic investments in occupational safety and health cost the company EUR 0.8 million. However, EUR 1.8 million were saved in the same period, resulting in a 2.20 cost-benefit ratio. The trend in cost savings is strongly positive. Annual accident costs were EUR 0.4 million lower in 2016 compared to costs in 2010. This study demonstrates that long-term, strategic commitment to occupational safety and health provides monetary value.

Language: en

Keywords

Economic benefits; Lost time accident; Non-work accident; Occupational accident; Occupational safety and health