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Assess the Financial Impact of Incidents and Accidents

Have you ever wondered how much money an incident or accident could cost your company? OSHA’s “$afety Pays” program is an interactive program that allows users to assess the potential impact that an occupational injury or illness could have on their bottom line.

This program allows users to select a workplace injury or illness that could result from the hazards present at the facility and then displays the dollar value of that particular injury or illness. Even though this is a very general program that does not take the site specific information into account, it can be used to demonstrate the general financial impact that one incident or accident could have on a company. Everyone is concerned about the company’s profitability and impacts to the bottom line. This information can be used to support the need to develop a robust workplace safety program, and can also be used to support reporting of near misses. Near misses are drastically underreported even though the intent of reporting is to prevent the occurrence of an incident or accident.

OSHA’s $afety Pays program can provide supporting rationalization for incident, accident, and near miss reporting. Better yet, it can provide support for the development of a robust EHS program to prevent incidents and accidents from occurring.

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