Is Occupational Health Just a Costly Tick Box Exercise?

With prices rising, investing in occupational health may be the last thing you as a business owner may want to do, especially as an SME. However, not investing in it may cost you more money long term. Let’s look at few reasons why.

 

Higher chance of asbsence cases

Two thirds of absence cases could be prevented with proper occupational health support. Loss of a highly skilled worker may have more of an impact to an SME than a larger organisation who may be able to cover the absence more easily. According to a study from 2012, poor mental health among employees costs UK employers £42bn – £45bn each year. This is made up of absence costs of around £7bn, presenteeism costs ranging from about £27bn to £29bn and turnover costs of around £9bn.

 

HSE inspections

By not protecting your employees, you leave yourself open to potential enforcement action from the HSE. Take a look at this recent article from the HSE where a company was fined £200,000 and ordered to pay £7605.37 for failing to protect their workers from HAVS.

 

Lower productivity

With OH support, your business can benefit from expert advice and OH interventions where necessary, which can help to support and manage employees health conditions. This, in turn, not only leads to better retention and return to work prospects, but also improves business productivity, as well as staff who feel happier and safer at a workplace where they know their employer is safeguarding their health.

 

Only 18% of small employers provide occupational health support for their employees. However, the benefits for SMEs to use occupational health support far outweigh any reasons not to do it. For further reading we strongly encourage you to take a look at some of the case studies found in the HSE report: Six SME case studies that demonstrate the business benefit of effective management of occupational health and safety. 

If you are interested in finding out more about occupational health support, why not visit our occupational health page, where you will be able to see the services Compass can assist you with, as well as download our ultimate interactive guide to keeping your employees happy, healthy, and safe.