Why modern occupational safety is worth every penny

5 important reasons to get your 2021 budget ready now

Successful companies allocate a meaningful amount of their budget towards occupational health and safety. Here are 5 good reasons why it is both worth every penny and worth doing in 2021.

1. Top trend: Digitalization in occupational safety

Digitalization and budget and commitment for occupational health and 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. Find out more in our infographic: 10 Challenges of Digitalization for Occupational Safety.

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2. Occupational safety can be a lucrative investment

budget and commitment for occupational health and safety

You should view your occupational safety budget as an investment. To do this, you first have to define your current challenges and the requirements you would need an EHS solution to meet. 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. Learn more in our article: HSE & Sustainability Investment Case.

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3. EHS Software: An all-in-one solution

Webinar budget and commitment for occupational health and safety

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 can bundle a variety of main focal points, such as accident reports, hazardous chemicals, audits or trainings and are composed of modules. Learn more in our webinar: How to chose the right EHS software.

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4. Successful companies are paving the way

Siemens Schweiz AG, DMK Deutsches Milchkontor GmbH and Empower are all showing why it is worthwhile to make a budget for occupational safety:

5. Safety Culture is key to success

budget and commitment for occupational health and safety

Amy Edmondson, Novartis Professor of Leadership at Harvard Business School, found that psychological safety is the single most important factor in building a productive team. The best basis for psychological safety is an organizational safety culture. To achieve this, depending on their size, companies need an adequate infrastructure, which is also correctly budgeted. Learn more about safety culture in our article: You don’t need a safety manager – you need a safety culture.

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