A new resource for Nova Scotia’s employers is being introduced as part of the Workplace Safety Strategy. The Workplace Incident Cost Calculator
is a tool that allows business owners to calculate the cost of workplace injuries and see first-hand the dramatic financial impact these incidents can have on their profitability.
The Calculator is a natural addition to the Small Business Safety Toolkit which was introduced to the small and medium-sized business community in Nova Scotia last spring.
The Toolkit had been developed with direct and ongoing consultation from business, industry and safety association partners, and the resulting Toolkit was overwhelmingly embraced by the community. Since becoming available, the online version has been viewed 3,118 times and the toolkit itself has been downloaded about 130 times.
The Workplace Incident Cost Calculator provides specific information for five industries:
There is also a “custom” section that can be adapted for other industries operating in the province.
We know that the greatest costs of a workplace injury are the impacts on the employee and their family, and these consequences are becoming better understood by employers. Employers are spending more time focusing on workplace health and safety because they believe it’s the right thing to do – because they understand their responsibility to their workers, and to their loved ones.
What is often harder to grasp are the financial costs associated with a workplace injury or incident, which is why this tool will serve as an important resource for Nova Scotia’s employers. These costs don’t just impact the individual organization; they take their toll on our provincial economy.
In Nova Scotia, more than 770,000 days are lost to workplace injuries every year. That’s the equivalent of 2,400 working years. Looking at it another way, it represents the population of Digby (and more) off work for an entire year.
Nova Scotia employers are paying the WCB $300 million ever year – that’s a significant amount of money out of the pockets of our business community. This is based on Canada’s highest average rate, thanks to our province’s history of injury and our unfunded liability.
We all have a responsibility to address these considerable statistics.
The Incident Cost Calculator is one tool to support that action. It offers the ability to better understand the financial ramifications an injury or incident can have on your organization and provide the foresight to invest in the right equipment and training to avoid that scenario.
Nova Scotia’s workers need to be healthy, working and on the job if we are to get to the vision we all envision for our province.