Financial assessment of health and safety programmes in the workplace

In evaluating health and safety improvements for performance improvement, it is necessary to account for both the contributions of a healthy workforce and the resources required supporting it.

The Economic Assessment of the Work Environment (EAWE) is a financial framework that helps management forecast the financial benefits of health and safety implementations. The five-step process comprises (1) a health assessment to identify critical elements in the work environment, (2) an action plan to address gaps, (3) performance targets based on internal goals and external benchmarks, (4) transformation of the expected improvements in health and safety into expected performance outcomes, and (5) implementation in stages, starting from individual jobs to entire organisation.

EAWE offers a dynamic framework for corporate decision-makers when evaluating health and safety programmes. Further research should explore the bounds of EAWE across different types of organisations and the evolution of performance over time.