Employers Can Reap Benefits and Incentives for Excellence in Workplace Safety
Workplace safety should be a major focus for companies that are hiring in the current labour market. With concerns of covid still lingering and the competition to find skilled workers being more challenging than ever, the importance of a safe workplace cannot be understated.
An unsafe working environment can be incredibly costly for employers with compliance failure penalties reaching $125,000 during the pandemic. On the other hand, a safe and responsible workplace can be a driver for attracting new talent. There are even financial incentives that come with maintaining a healthy and safe workplace.
The competitive labour market continues to be a persistent issue for companies looking for new employees. Offering incentives and benefits is how companies are remaining competitive in attracting new talent – and ensuring that a workplace is safe is a main priority for many individuals that are seeking new jobs.
The pandemic only magnified the issue of workplace safety and highlighted the importance of a healthy work environment. Lack of safety standards massively set back companies that were not willing to maintain these standards. Productivity drops rapidly when workers are unsure of their environment and when they cannot rely on safe and consistent practices. While, in the past, many people saw workplace safety as only an issue for physical labour, the pandemic has shown the importance of best practices for illness and sickness, something that is not exclusive to physical labour.
Not only is workplace safety a tool for a competitive labour market, it also comes with direct benefits and rebates. The Workplace Safety and Insurance Board (WSIB) offers financial incentives to businesses between 1 and 99 employees who are a part of their Health and Safety Excellence program. These rebates include $1000 towards the cost of an approved businesses health and safety plan, doubled rebates for companies who complete additional health and safety topics throughout 2022, and increased rebates from 75% to 100% of the total WSIB premium paid by the business the past year. These rebates total almost $3 million in savings across all Workplace Safety and Prevention Services members.
For more information on the WSIB Health and Safety Excellence Program, as well as to register, please visit the Workplace Safety & Prevention Services website.