Want to give your business the edge for 2019? Want to do it at no cost to your business? Queensland tradies have a limited opportunity to get WHS training, funded by their building and construction industry body, Construction Skills Queensland (CSQ). Being...
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 Behavioural Safety 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 email@example.com
More from our blog
In 2018, the preliminary data showed 154 Australian workers were killed at work, a reduction compared with 190 workers in 2017. Why does it take so long to get data on fatalities? 2018 figures are preliminary figures and are updated only once the...
Being a leader means you’re tasked with many responsibilities, across managing people and teams, organisational expectations and performance. Not every leader is awesome at all aspects of leading teams – here are four common mistakes you may be...