In light of masks being mandatory across all of Victoria and highly recommended in some other states, we have republished this article from The Conversation. Which mask works best? We filmed people coughing and sneezing to find out. If you’re not sure whether wearing...
Evidence shows that organisations who invest in health and safety culture have a competitive advantage.
A study published in the Journal of Occupational and Environmental Medicine looked at the financial growth of public companies that scored highly in the Corporate Health Achievement Award (CHAA) nominations. The CHAA awards recognise the healthiest, safest companies and organisations in North America and aim to raise awareness of best practices in workplace health and safety programs.1
As part of their application for the awards, organisations presented trend data showing a reduction of health risk, health-cost savings, or other impact on the business as a result of their safety, wellness, and health programs as well as their leadership and management culture.
Using this data, researchers took the top 17 performing companies and created stock market investment scenario, analysing the period spanning 2001 to 2014, using a hypothetical investment of $10,000.
Companies who did well in health and safety performance achieved a 333% return, compared to the stock market (S&P 500 index) return of 105% during the same period.
Even in the lowest-performing scenario, the CHAA companies achieved a 204% return, compared to an S&P return of 105% during the same period.
This research may have also identified an association between companies that focus on health and safety and companies that manage other aspects of their business equally well.
The modelling suggests that organisation that invested significantly in health and safety programs can outperform other companies in the marketplace.
Tracking the Market Performance of Companies That Integrate a Culture of Health and Safety: An Assessment of Corporate Health Achievement Award Applicants. Journal of Occupational and Environmental Medicine. January 2016 – Volume 58 – Issue 1 – p 3–8 doi: 10.1097/JOM.0000000000000638.
Learn More About Our Foundational Safety Leadership Program
Focusing on shifting individual attitudes and mindsets regarding how safety is viewed in the workplace, this program also teaches new skills and knowledge to embed behaviour change at an individual and organisational level.
To find out how we can customise this program for your needs call us on 1300 453 555.
Want to transform your organisation's safety culture?
Safety Dimensions offers accredited and non-accredited leadership training for leaders, safety professionals and employees to support organisations to effectively deal with safety performance challenges.
We can train anywhere in Australia and our programs can be customised for your workplace and industry. Download our program guide.
Call 1300 453 555 or email firstname.lastname@example.org
More from our blog
Have you undertaken a current risk assessment to identify the risks associated with exposure to COVID-19 in your workplace? Safe Work Australia has published a downloadable checklist you can follow with the key considerations for identifying risks and control...
Victoria has made Workplace Manslaughter a criminal offence and will now have the highest safety fine in the country with maximum penalties of $16.5m and 20 years jail. Victoria is the third state after ACT and Queensland to legislate to make Workplace Manslaughter a...