Regulatory compliance, moreover, describes the goal of an organisation in Boksburg to ensure that it is not only aware of such regulations, but that it takes the necessary steps to ensure full compliance. Health and safety compliance is a prevalent business concern and it requires organisations to practice vigilance in maintaining a full understanding of the regulatory compliance requirements with which they have been tasked, especially considering that these regulations are ever-increasing. Health and safety compliance involves the implementation, promotion and maintenance of the highest level of physical, mental and social well-being of all employees present in the workplace. In ensuring this, adverse health issues, injuries, illnesses and even death caused by working conditions as a result of hazards and risks can be reduced and even eliminated where reasonably practicable. However, it should be noted that organisations may face several challenges in implementing, promoting and maintaining health and safety compliance. However, once the necessary steps have been taken to ensure a healthy and safe environment, numerous benefits for both the employer and employees can be reaped.
What are the benefits of health and safety compliance?
Health and safety compliance is a legal obligation that all employers have. However, a general misconception that many may have is that “it will never happen to me” or “it does not really apply to me”. Despite this mentality, the Occupational Health and Safety Act is still applicable to everyone, regardless of the industry, size of the organisation, sector or nature of business. Various industries may employ different OHS strategies, but all legitimate businesses are required to have an adequate safety plan in place. In making use of the unique services and solutions offered through a SafetyWallet subscription, employers can truly experience the countless benefits that health and safety compliance can bring.
1. Less employee turnover and reduced absenteeism
When issues revolving around occupational health and safety are addressed, employers can expect to see improved employee turnover and reduced absenteeism as a result. OHS issues contribute to operational costs and can heavily damper productivity should these go unattended.
2. Improved employee morale
Improvements in employee morale as a result of safer and healthier working conditions allow employees to handle stress and change better. Improvements in morale also result in increased productivity and improvements in functionality in the overall workplace.
3. Increased productivity and improved job satisfaction
Increases in productivity are a direct benefit that can be observed. It is also an obvious advantage as, with a safer and healthier workplace, increases in production result in higher profitability, which subsequently increases employee morale as they can see how safe work pays off.
4. Fewer IODs and WCA compensation claims
Some injuries that occur on duty may result in the employee being away from work for some time, depending on the severity of their injury. The employer is also legally obliged to cover medical costs for treatment and paying the employee’s salary while they recover. Even though such costs are covered by the Compensation Funds, claims made to the fund will frequently and inevitably lead to higher assessment fees. When injuries and illnesses are reduced, an overall cost reduction results.
5. Reduced costs to COID, fewer fines and litigation
When employers address occupational health and safety and subsequent compliance, and it is managed correctly, a reduction in the rate of incidents and accidents follows, resulting in reduced costs to COID. The risk of fines is also reduced as well as the chance that the employer must pay litigation fees.
6. Improved corporate culture and image
When a company shows compliance and that they are proactive in ensuring the health and safety of their employees, the company’s corporate image is improved and a strong safety culture among employees is developed, regardless of their position in the organisation. This ensures positive PR and increases the company’s ability to attract and retain skilled workers and customers.
7. Higher ROI as a SafetyWallet subscriber
Many employers may often wonder whether health and safety compliance will improve the bottom line of the company. Even though the benefits of health and safety compliance is difficult to quantify, they can be clearly observed in increases in the return on investment (ROI). ROI is a crucial tool of measurement over time as it can affect future business decisions. As a SafetyWallet subscriber, companies can start seeing substantial improvements in their ROI and cost savings within the first year. Even though not all positive impacts that health and safety compliance have can be noted in the ledger book of a company, these can, however, be observed in the daily operations, the reputation of the company and the employee morale. 
