Factsheet 28 - Economic appraisal of preventing work accidents at company level
Improvement of safety and health at work can bring economic benefits for companies. Accidents and occupational diseases can give rise to heavy costs to the company. For small companies particularly, occupational accidents can have a major financial impact. Information and perceptions about future effects of decisions, preferably expressed in monetary terms, help employers in the decision-making process. The true value of economic appraisal is in influencing the beliefs of decision-makers and policy makers. For maximum effectiveness in this respect, economic appraisal should be a joint activity of all stakeholders. An effective way is to make financial or economic estimations and give a realistic overview of the total costs of accidents and the benefits of preventing these.