Increased exposure to safety risks, mismanagement of the contractor ecosystem, non-compliance with safety regulations, and lack of proper safety controls - all these factors and more can lead to loss of lives, time, productivity, and trust in businesses.
Besides having a devastating impact on the victim’s family and the community, a workplace injury or fatality can have severe implications for your company as well. Besides medical reimbursements or legal sanctions, a company may also risk losing its employees and most importantly brand reputation.
Health and safety risks don’t just impact lives, they can also impact a company’s bottomline
Direct financial costs of workplace injuries exceed $170 billion annually.
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Private industry employers reported 2.7 million nonfatal workplace injuries and illnesses in 2020
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Direct costs of even one workplace safety incident on average is a minimum of $40,000 – but this is just the tip of a very expensive iceberg, as one must also consider the indirect costs.
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Safety costs range from $47,000 per accident to $1.2 million per fatality according to the National Safety Council (NSC).
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Suppliers improve 7-8%, per year, on safety measures after they join.
Manage Risk for Any Supplier
Built with complex supply chains in mind, Avetta organizes and keeps all of your supplier documentation up to date, accurate and available at any time.
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Manage your supplier relationships, evaluate compliance status and ensure worker safety, all in one application.