The OSHA website features a calculator tool that can help determine a margin loss scenario resulting from an injury. Calculating the total costs of a single laceration injury is staggering. A cut on the finger that would have been preventable with the right PPE solution can lead to a $40K total cost, with an estimated $400K in future sales needed to pay for it! Escalate the injury to a fracture and the numbers nearly triple.
This is not a sales pitch, it’s basic math: Buying cheaper PPE is detrimental to your corporate bottom line. It cuts the immediate and direct cost of a good, while potentially skyrocketing the overall indirect operational costs. Armed with this knowledge, how can you help your company meet its financial targets?
- Perform a comprehensive safety audit. Understanding all the work applications and hazards, along with the appropriate level of protection needed, is critical. You may discover that you are using too much or too little PPE in certain areas, which could save money in both the short and long term.
- Choose longer lasting PPE. In many cases, more expensive PPE that lasts longer will actually save money in the long term. A cheaper glove that costs 20% less but needs to be replaced twice as often will only hurt your bottom line.
- Care for your PPE. Improper PPE care can shorten the life of the product. It can also lead to dermatitis, decreased dexterity, loss of protective abilities, and odor. Washing PPE regularly can greatly extend its life, in some cases by up to 300%.
Click the link to check out the OSHA injury cost calculator.