It is important that we must implement good standards of health and safety as in this technology driven era, working life in the world as a whole is changing at an ever increasing pace. We are exposed to challenging jobs which can give rise to new risk areas or change the way that occupational safety and health needs to be managed.
Effective implementation of good standards of health and safety has many monetary advantages too. It can reduce loss of time associated costs through injury or ill health. It can reduce loss of cost due to absenteeism, damage, insurance costs, reduced costs associated with fines, compensations and legal defense costs etc. Moreover effective implementation of health and safety standards results in improved quality and output due to improvement employee morale.
It is also important to implement health and safety standards for legal reasons. There are 3 levels of statutory duties which form a part of the legal reasons. They are absolute duty, practicable duty and reasonably practicable duty. The financial justification for the health and safety function is given by the cost benefit arising from the advice provided by the expert, against the costs to the business of obtaining that advice. Accident always cost more than the initial estimates.
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