In a perfect world, companies would invest in safety because protecting workers is the “right thing to do.” While some of you may be lucky enough to work for companies like that, most safety managers have to make their case in terms of return on investment (ROI)--that dollars invested in safety improve the company’s financial performance. Since safety doesn’t generate revenue, safety managers must show that it cuts company costs. But saying that “safety saves money” is a cliché. The real challenge for safety managers is to back up the assertion with substantive economic arguments. There’s a 2001 report from […]