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How a Risk Strategy can improve your bottom line

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1997 was a year of big changes. I was a fresh-faced university student establishing a delicate balance between studying Risk Management and parties. Perhaps one of the best examples of how a business can improve their bottom line through their Risk Strategy is the UK postal service, The Royal Mail.

Following the change in Government, the Royal Mail implemented a new safety management system.  Since 1997 they have reaped considerable rewards by investing in their safety and risk strategies, including;

  • 40% reduction in days lost per employee through accidents and ill health.  This reduction equated to approximately $1.6 million;
  • 50% reduction in the annual number of civil claims;
  • 40% reduction in reportable injuries and more effective accident investigation;
  • Consistent monitoring of safety improvements as a result of investigations;
  • Better record keeping and better audit data enabling benchmarking and continuous improvements.

In contrast, the operator of a Surfer’s Paradise pub was recently sued $75,000 for irresponsible conduct by failing to maintain the establishment’s drainage system, prompting two inexperienced employees to take matters into their own hands and unblock the drains without receiving appropriate training in hazardous chemicals.

This appalling incident resulted in the serious injury of the two employees and bad press for the venue in the papers and on social media sites.  In this age of rapid technology development, if you slip up the whole world will know about it almost instantly.

Having a good health and safety management system in place is the foundation for safety at work.

The good news is that Australia is at the forefront of health and safety management systems after learning a sober lesson from the horrific Piper Alpha incident in which 167 men died when an oil rig caught fire 25 years ago.

So what exactly are you risking by not having a health and safety management system in your workplace?  Here is a simple breakdown of the facts.

The case for a fully comprehensive health and safety management system is overwhelmingly positive.

To explore your health and safety management options for your venue, and make the most of these fantastic benefits, contact the DWS team on (07) 3878 9355 or email info@dws.net.au

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