Setting a Safety Budget for the new financial year is an important factor and too often employers fail to budget for workplace health and safety needs.
Investing in Safety can save you in the event of an incident but the true savings come in ensuring incidents are prevented. Investing in improved work practices and new equipment can prevent injuries and accidents, and ultimately save you time and money.
Health and safety improvement and provisions should be part of the standard budget setting process. This can be done through specific safety budgets or as a safety element of each department Manager’s budget.
Some factors to consider when creating a Safety Budget:
- Resourcing for health and safety
- OHS/WHS Subscriptions (to keep abreast of current legislation)
- Training (e.g. First Aid Officer; Fire Warden)
- New Equipment and Repairs (e.g. preventative maintenance)
- Protective Equipment (repairs and replacements)
- Safety Management System Upgrades (policies/procedures/plans etc.)