Factsheet 27 - Inventory of socioeconomic costs of work accidents
Improvement of health and safety at work can bring economic benefits for companies, workers and society as a whole. Accidents and occupational diseases can give rise to heavy costs to companies. For small companies particularly, occupational accidents can have a major financial impact. But it can be difficult to convince employers and decision-makers of the profitability of safer and healthier working conditions. An effective way can be to make financial or economic estimations and give a realistic overview of the total costs of accidents, and the benefits of preventing accidents. Total costs and benefits will include both obvious and hidden costs, together with the costs that can easily be quantified and those that can only be expressed in qualitative terms.