OSHA fines increased 78% from 2015 to 2016, AND will continue to increase each year based on the rate of inflation. This dramatic increase further elevates the importance to meet and maintain OSHA compliance.
This impact your company’s bottom line SIGNIFICANTLY!
To help quantify this impact, what amount of new sales does your company need to generate to offset an OSHA fine? Estimating an 8% bottom line profit margin the results are as follows:
OSHA Fine: $12,934 (Serious/Other Than Serious)
New Sales Needed: $161,675
OSHA Fine: $129,336 (Willful/Repeat)
New Sales Needed: $1,616,700
These numbers validate that the strength and effectiveness of your company’s safety program has a significant impact on its bottom line.
Contact ZORN today to discuss how our Safety Program Management can help your company meet and maintain OSHA compliance, prevent safety violations and fines – AND improve your bottom line!