Accidents Involving Young Workers - The Cost Of Accidents
Many employers worry that a workplace accident will result in an increase to their workers' compensation insurance premiums. The best way to avoid an accident in the first place is to encourage all your workers to report and discuss safety issues as they come up. Together you can nip workplace accidents in the bud!
The Hard Truth
The price tag related to long-term compensation for a seriously injured young worker can have a devastating impact on your business.
Consider the following:*
- In 2004 alone, $6,869,878 was paid out to young workers injured in New Brunswick, including both health care and loss-of-earnings expenditures. Since 2000, benefit payments for young injured workers have cost our provincial economy $36,852,025 (WHSCC, 2005).
- There are many costs associated with workplace accidents, some of which are direct; others are hidden (Bird & Germain, 1996). The direct costs, or so-called out-of-pocket expenses, include health care, medical, and compensation costs (Bird & Germain, 1996; Miller & Waehrer, 1998). An accident can also have substantial economic impact on the workplace with hidden expenses related to property damage, absenteeism, production delays, loss of business, and an overall impact on staff morale (Bird & Germain, 1996).
- Lastly, the impact of a workplace accident can bear heavily on victims and their families. Loss of earnings can add financial stress in the home with potential for emotional stress due to the victims' inability to perform daily tasks (Bird & Germain, 1996; Miller & Waehrer, 1998).
Moleman, S. (April 2006). Discovering the barriers to workplace health and safety training for new and young workers. Fredericton, NB. Faculty of Education, UNB.
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