October 24, 2022

By Medbury Medicals

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7 Reasons Businesses Need to Invest in Occupational Health

Many factors can affect a business’s growth, productivity, and success. Some of these factors may have a direct influence, while others may be indirect. One thing, however, is that good occupational health practices by companies and employers of labor have a visible, measurable, and trackable impact on the lives and productivity of employees, which directly affects the growth of the business. Occupational health should not be foreign to you, primarily if you work for an organization already committed to and practicing good occupational health standards.

Amazingly, the adoption of OH in Nigeria still leaves much to be desired. Hence the question, ‘what exactly is occupational health, and why is it important? We’ll answer these questions and show you the seven benefits of occupational health and why employers and businesses should invest in it.

What is Occupational Health?

Occupational health, also known as Occupational Health and Safety (OHS), is a branch of public health aimed at ensuring that workplace health and safety standards operate at the highest level to prevent illnesses and injuries from workplace hazards. Various occupations have specific risks specific to those occupations, which may differ from one company to another. 

As a result, OHS is not a fixed set of do’s and don’ts but an adaptable guide that prioritizes employee health and warrants best practices, depending on the best practices relevant to that industry.

Below are some reasons businesses should invest in occupational health. They include:

1. Reduction in human error. 
2. It Increases employee confidence in the company’s work process.
3. Better access to funding, investment opportunities, and credit facilities.
4. Easier alignment with regulatory policies and requirements.
5. Reduction in premiums paid on insurance.
6. Enhanced image of the business and public relations.
7. Increased company or business productivity.

Reduction in Human Error

The probability or possibility of workplace accidents increases when there are no proper OH and safety measures from newly employed overzealous staff seeking to impress those who work long shifts and become a little uncoordinated at the close of business. These can mitigate these human errors with an existing occupational health structure.

Occupational Health And Safety In Nigeria

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It Increases employee confidence in the company’s work process.

A standard occupational health system helps employees feel confident and more secure when going about work-related tasks and activities: threats, injuries, and health challenges, such as:  

• Asbestos-related diseases.
• Skin diseases.
• Effects of vibration and noise.
• Repetitive strain injuries.
• Falls

And it effectively covered many more where a proper and comprehensive occupational health system is in force. It helps the employees feel more confident when performing their duties.

Organizations get better access to funding, investment opportunities, and credit facilities

Sourcing for funding from investors and banks as a business is never an easy venture. Moreso in today’s business world.

However, an effective occupational health structure shows intending investors and credit facilitators that a business operates effectively and is potentially viable for funding.

Investors would be more likely to invest in a corporate outfit with less probability of incurring costs and expenses because of occupational health hazards and a clear working structure that responds to these incidents.

It allows easier alignment with regulatory policies and requirements.

A company with occupational health structures in place will have fewer risks of running afoul of laid down policies and regulations when it comes to compliance with best practices in safeguarding employee health and preventing workplace hazards.

It helps to reduce premiums paid on insurance.

When setting up an occupational health structure, one of the major impediments is the initial set-up cost. However, an effective occupational health structure can also save the company money in the long run by affording the company lower insurance premiums. 

Insurers will be more inclined to grant reduced premiums where companies can show that they have an established system to mitigate hazards and safety risks in the workplace.

Occupational Health enhances the image of the business and public relations

In today’s market, adverse publicity can damage a company’s reputation, brand image, and perception. Where an organization is deemed an unsafe place to work owing to repetitive and preventable workplace hazards, which adversely affect the company’s employees, the company’s public image takes a hit.  

Consumers and the public would be critical of companies that don’t prioritize their employees’ healthcare and possibly avoid any association with them. Over time, this can also affect staff retention and hiring.

It increases a company’s or business’ productivity

When a company engages in best occupational health practices, it directly improves the business’ productivity. It is because the employees would be more motivated to work, as they can carry out their assigned tasks and duties safely, and would be more likely to be more effective and productive when carrying out their duties.

Conclusion

As a business or organization, these seven benefits of adopting proper occupational health practices should get business owners and employers seeking the best way to set them up in their respective outfits. Creating an enabling atmosphere for employee health to be prioritized via OH practices holds massive benefits for a company, its productivity, and public perception. 

If you’re keen to learn more about how to put intentions into action and start investing in OH, call us today.