Digitalization, Occupational Safety

Why modern occupational safety is worth every penny

6 important reasons to get your 2023 budget ready now

5 minutes09/06/2022

Successful companies allocate a meaningful amount of their budget towards occupational health and safety. Here are 6 good reasons why it is both worth every penny, and worth doing in 2023. Learn why occupational health and safety needs modern solutions that will sustainably advance your company. We summarize the reasons on this page and link you to related articles, webinars and whitepapers.

Reason #1. Digitalization affects occupational safety

The enormous potential digitalization holds for occupational safety is often not fully realized. At the same time, the health risks of being able to work anywhere and anytime are often underestimated. By investing in the right knowledge and technologies, you can protect your employees and get your company ready to face the future.

10 Challenges of Digitalization for Occupational Safety

New challenges have arisen and certain well-known problems are being intensified by digitalization. Our infographic gives you an overview of 10 key challenges that the digitalization of occupational safety presents and offers actionable suggestions for dealing with them.

View the infographic

Reason #2: EU Taxonomy and ESG criteria require excellent occupational health and safety performance

In the future, whether and under what conditions companies can access financial markets, will increasingly depend on their ESG performance in the areas of Environment, Social and Governance. The aspect of occupational health and safety is anchored in the second ESG factor - Social - which means that a company's ESG performance is is closely linked with the work EHS professionals do.

EHS and ESG

"The ESG criteria are already an important driver for investment in better occupational health and safety in my company." This statement comes from just over 30% of the 500 professionals and managers surveyed in the Safety Management Trend Report. So how do ESG criteria relate to the work of EHS professionals? Learn everything you need to know about this in our article!

Read the article

Reason #3: The Return on Prevention (RoP) factor is 2.2

The economic success of occupational health and safety is measurable and can be calculated using the so-called RoP (Return on Prevention). An international study concludes that the RoP factor is 2.2. This means that every euro invested in prevention, brings a return of 2.20 euros from a business point of view. 

Success over Expense

In many companies it is part of everyday life for occupational safety specialists to showcase the economic viability of occupational safety and health. To what extent do planned or implemented measures contribute to the overall success of the company?

Read the article

Reason #4: There are all-in-one solutions for your budget

You don’t have to spend your budget on various one-off solutions for occupational safety. You don’t need multiple budget allocations to cover all the relevant expenditures of modern EHS management. A software solution is composed of modules and can bundle a variety of main focal points, such as accident reports, hazardous chemicals, audits or trainings.

Different focal points - one budget

Having the right EHS software in place can be immensely helpful in lightening your workload. But how should you structure your search for the best solution to make sure you find the right software provider? What criteria should you consider? In our whitepaper you will learn how to:

  • Identify your needs
  • Consider relevant selection criteria
  • Identify savings potential
  • Convince management and stakeholders
Download whitepaper

Reason #5: Successful companies are paving the way

Companies in various industries and of different sizes have already put their budgets to work and achieved a breakthrough in occupational safety with the help of modern software.

You don't have to reinvent the wheel

The example of the Karlsberg brewery also shows how much potential software has to offer when it comes to increasing efficiency. "With Quentic, risk assessments can now be completed 70% faster and by all managers within the company." (Michael Schmidt, Health & Safety Manager at Karlsberg Brauerei GmbH)

Read the success story

Reason #6: Occupational safety can be a lucrative investment

You should view your occupational safety budget as an investment. With the help of financial indicators for your desired and actual scenarios, you can conduct a long-term cashflow analysis for the investment you are considering, taking the total net value of the project, the time needed for amortization and the expected percentual dividends into account.

Your investement case

Put your spending in perspective. Evaluating potential EHS investment may take some time at the beginning and may be tricky, but it will give you and the other decision makers a realistic overview. Read our article to learn how to prepare the calculations of your investment case.

Read article

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