How Much Do Work Place Injuries Cost? Liberty Mutual Explains
One thing employers try to avoid is workplace injuries. It can be the biggest of headaches and something extremely costly, especially if the employer does not have adequate coverage on their end. It really does beg the question, how much are US based companies paying out for workplace injuries?
Workplace injuries happen from many different but according to Liberty Mutual and their workplace safety index, they have taken the initiative to list the top 10 causes of serious workplace injuries in the United States. The criteria for these are what causes an employee to miss more than 5 days of work consecutively and also ranks them to the direct cost to the employer. Meaning how much it cost an employee to facilitate such an injury. Liberty Mutual safety and that’s for 2019 is the first report all the causes of the direct costs to these two years of workplace injuries. Let’s take a look at the top-10 Industries or workplace injuries to happen the most.
- Professional Services
- Transportation and Warehousing
- Leisure and Hospitality
James Meridio the general manager of birth control for Liberty Mutual Insurance states “The latest ranking help employers, risk managers, and safety professionals improve workplace safety by highlighting its financial impact in total and for specific industries,” “To better protect employees and the bottom line, each employer needs to understand the root causes of the most serious workplace injuries they face. Only then can they effectively mitigate and manage these through work design, system controls, technology, training, and strategic risk management. Insurance companies and brokers can be a key ally in these efforts.”
Liberty Mutual Insurance has done their due diligence provide you with an accurate description as well as an accurate cost the most expensive causes of workplace injuries. Here they are as follows:
- Overexertion from outside sources ($13.11 billion)
- Falling on to the same level ($10.38 billion)
- Struck by object or equipment ($5.22 billion)
- Falls to a lower level ($98 billion)
- Other exertions or bodily reactions ($3.69 billion)
- Roadway incidents involving a motorized vehicle ($2.7 billion)
- Slip or trip without falling ($2.18 billion)
- Caught in or compressed by equipment or objects ($1.93 billion)
- Repetitive motions involving micro tasks ($1.59 billion)
- Struck against object or equipment ($1.15 billion)
Of course with workplace injuries are more than just these 10 facts. There are hundreds of different reasons why one would be injured or hurt at the workplace. And it is in our best interest to make sure that everyone is safe or fold the best practices to ensure safety.
Always make sure that before you start a job or you feel unsafe to consult your manager for the proper safety precautions. It true that you always have the proper safety equipment as well and all safety Guidelines are up-to-date.