Every accident has a cost associated with it and that is why it is important to stress safety on and off the job. The costs that are involved are both direct and indirect; however the employee who was injured will be the one who pays the most. The costs associated with an accident are always more than just money!
Direct Costs for the Employee
- Lost wages and overtime
- Doctor and hospital bills
Indirect Costs for the Employee
- Physical pain and suffering
- Mental anguish
- Lost time with family and friends
- Loss of productivity on and off the job
- Relationship strain
Direct Costs for the Employer
- Medical bills and workers compensation claims
- Legal costs
- Insurance costs
- Property damage costs
- Wages being paid for a side line worker
Indirect Costs for the Employer
- Loss of a valued employee
- Loss of productivity
- Replacing the lost worker (hiring and training costs)
- Damage to equipment or tools
- Time it takes to handle the injury claim
- Decrease in employee morale over the loss of an employee.
