Lesson 10: ECONOMIC ANALYSIS OF SAFETY AND HYGIENE
The European Agency for Safety and Health at Work estimates that every year about 5,500 people are killed in the workplace across the European Union, with another 4.5 million accidents resulting in more than three days absence from work (amounting to around 146 million working days lost). These accidents are estimated to cost the EU about 20 billion euro. The problem affects all sectors of the economy and is particularly acute in enterprises with less than 50 workers. Accidents and occupational diseases can give rise to heavy costs to the company, particularly small companies. Preventing work accidents, occupational injuries and diseases have more benefits than just reducing damages: it has also been shown to be a contributory factor in improving company performance.