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Cost Benefit Analysis

Employers that invest in workplace safety and health can expect to reduce fatalities, injuries, and illnesses. This will result in cost savings in a variety of areas, such as lowering workers’ compensation costs and medical expenses, avoiding OSHA penalties, and reducing costs to train replacement employees and conduct accident investigations. Indirect cost include Lost production of worker and disruption to workflow, Project delays / need for over time,Investigation and insurance administration , Hiring and training of replacement workers, Reputation risk to public and business partners, Legal fees, OSHA fines (up to 12 k per fine), Impact on incident rates for bidding and winning contracts. Pointman Consultants bring cost benefit analysis and predictive analytic modeling to your safety program. Reliable and powerful data can now be incorporated in your safety budgeting process to reduce cost and further support the importance of safety in your organization.