While some businesses complain that workplace regulations damage competitive strategies and destroy jobs, a new study suggests that government enforcement of workplace health and safety rules can save lives without sapping a company’s bottom line.
A new study published in the journal Science followed 409 California work sites that were randomly inspected by California’s Division of Occupational Safety and Health from 1996-2006. It found that inspected firms saved an average of about $355,000 (an average of 9.4%) in injury claims and compensation for paid lost work over the following four years.
“These inspections ironically appear to be creating value for the firms that they are visiting in terms of reduced workers’ comp costs and frequency of injuries,’’ said Michael Toffel, a professor at Harvard Business School and co-author of the study.
Read the full article published by By Sam Hananel at the Associated Press here: