Safety Budget Worksheet
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Why All Organizations Need a Safety Budget
- The average workplace incident costs employers $1,100 per worker or $44,000 per worker if it’s a medically consulted injury
- Workplace injuries cost US employers over $163.9 billion in 2020 and workers missed over 99,000,000 days of work due to injuries
- The average cost of a worker’s compensation claim in 2019-2020 was $41,353.
- The workplace injury and illness incidence rate was 2.7 per 100 full-time workers in 2021.
The math tells the story—safety saves lives and money. Yet many organizations do not include a line item in their budget for safety and the EHS professional is left scraping together a budget from a variety of sources, other programs, and departments.
HSI’s Safety Budget Worksheet makes it easy for safety professionals to calculate expenses for essential resources that support accident prevention, hazard mitigation, and compliance.
With sample pricing for safety goods and services from reputable national suppliers, this simple tool helps you get a handle on safety program finances.
- Based on Medium-Risk Work Environments
- Averaged for 250 Employees
- Accounts for Hazard Diversity
- Key Services Averaged Monthly
- Annual Inspections
- Includes Training & Certifications
Safety remains a reactionary business function, often undervalued and occasionally ignored. The failure to budget and invest in workplace health and safety has a chilling effect on culture, and serious consequences for employers and working families.
That’s why it’s never a bad time to plan your safety budget.