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How Safety Knives Save You Money

Safety return on investment, safety vs lawsuits

Companies whose employees often utilize cutting tools can greatly reduce business expenses by investing in safety knives. Cutters come in many designs, and are used in just about every industry across the job spectrum. These tools are so fundamental, they are often overlooked as a potential for injury. According to the National Safety Council, there are over 1 million hand injuries occur each year; 63% of them due to laceration. Additionally,  OSHA reports average cost per claim for injury is $36,472. The direct and indirect costs of injury are huge and should be avoided at all costs. Investment in safe cutting tools minimizes the potential for injury and thus can save companies thousands dollars annually.

How Do Safety Knives Prevent Injuries?

What is a safety knife? We define  “safety knife” as a cutter equipped with permanent safety features designed to minimize blade exposure and protect the user from accidental laceration. For years manufacturers have been obsessed with redesigning their cutters to minimize blade exposure and maximize safety. Safety knives come in a variety of shapes and sizes; each with their own set of benefits and challenges. When choosing the right safety knife, consider where and how often you’ll use your safety knife.

Ceramic Blades

 

Concealed Blade

 

Disposable

 

Fixed Blade

 

Food Safe

 

Self-retracting

 

Smart-cutter

 

Replacement Blades

 

What are you cutting and how versatile do you need your knife to be? For example, bag cutters are designed to open bags in the most ergonomic and safest way possible. There are even cutters designed solely for the easy removal of box tops. Safety knives minimize the risk of injury by preventing blades from coming in contact with hands and materials. These knives are often superior in design, function and quality compared to traditional cutters. Often with an emphasis on ergonomics, safety knives are designed to be as comfortable as possible. Ergonomic handles not only improve worker morale, but encourage proper cutting technique. By minimizing blade exposure, safer cutting tools prevent injury and thus lower company expenses.

Why Invest in Safety?

Safety Return on Investment

Investing in safety has numerous benefits to not only your company, but employees too. According to OSHA, companies who invest in safety enjoy fewer fatalities, injuries and illnesses. Safer workplaces are often happier, more organized, and productive. On the contrary, dangerous work environment are not only more expensive; but seem to actually scare away potential employees. A recent survey from EMPLOYERS® shows that safety is among the top criteria employees consider when evaluating a job offer. Furthermore, OSHA states by investing in safety, companies can reduce costs by 20% – 40%. A margin large enough to lift struggling businesses up out of the red and into profits.

Real World Examples

Schneider Electric; a world leader in electric automation wanted to do more to prevent the likelihood of worker injury. While they were well below the OSHA standard, they invested in better equipment and training for employees. The return was better than expected. Schneider Electric saw the rate of injury plummet from 3.6 to just 0.5 per 100 workers. The company experiences 900 fewer injuries each year and saves approximately $15 million annually. More and more companies are realizing the benefits of investing in a safer workplace. Not only are safe working environments considered ‘better places to work’, employees who feel safe tend to be happier and more productive.

Aloca, the world’s 6th largest producer of aluminum set out to make their job sites safer. The company invested heavily in the safety of their employees by providing them modern personal protective equipment (PPE) and creating a culture of safety. Again the return was astronomical, the companies  earnings soared from $0.20 to $1.41 per share in just five years. While earnings multiplied, sales grew 15% each year and managers reported less lost time due to injuries. Companies across our planet are coming to realize the numerous benefits of investing in safety equipment.

Takeaway

Companies across the world are investing in workplace safety and seeing significant returns on their investment. Businesses whose employees utilize cutting tools in everyday applications can greatly reduce company costs by investing in safer cutters. Injuries are not only expensive, but harmful to a company’s reputation and worker morale. Additionally, dangerous working environments can inhibit your ability to hire and grow. Studies show that safety is among the top criteria for prospective job opportunities. By investing in the safety of your workforce, you can not only prevent these unnecessary costs but enjoy the benefits of a safer workplace. A culture of safety cannot only save your company money, but improve productivity and stimulate growth for your company.

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