Profitability and safety are often interconnected in the long run. Businesses that prioritize safety can create a safer work environment for their employees, which can result in reduced accidents and injuries, lower healthcare costs, and increased productivity. This, in turn, can lead to increased profitability. Moreover, a business that prioritizes safety can also benefit from an improved reputation and brand image, as customers and investors tend to favor companies that prioritize the well-being of their employees and communities.
Legal & financial consequences
Businesses that neglect safety can face legal, financial, and reputational consequences, which can harm their profitability and sustainability in the long run. A workplace accident can result in costly lawsuits, fines, and penalties, as well as damage to the company’s reputation and customer loyalty. Take the ExxonMobil news of this week. A law firm was able to secure over $28 million on behalf of five plant workers who were injured in an explosion at ExxonMobil Baytown Olefins Plant on July 31, 2019.
To save lives, the U.S. Department of Labor announced that OSHA has issued new enforcement guidance to make its penalties more effective in stopping employers from repeatedly exposing workers to life-threatening hazards or failing to comply with certain workplace safety and health requirements. The new changes apply when ‘high-gravity’ serious violations” are found in the following conditions:
- Lockout/tagout (LOTO)
- Machine guarding
- Permit-required confined space
- Respiratory protection
- Other-than-serious violations specific to recordkeeping
Serving your complementary goals
It is essential for businesses to prioritize both profitability and safety, as they can lead to long-term success and sustainability. Sofis is dedicated to supporting these complementary goals and we are positioned to help in many of the mentioned topics. Valve interlocks, or captive key systems, offer a physical layer of protection, and guarantee your operators follow the correct steps through a key transfer principle. The FlexiDrive remote valve operator helps reduce time spent in hazardous zones, a major KPI for businesses. Imagine stroking a valve mechanically but from outside the confined space. Considerable time is saved when you don’t need to wear the space suits to operate a valve – because you can do it from a safe distance, fully mechanical.