Contractor Safety Programs Yield Financial Benefits
• 82% report an improved reputation
• 71% report lower injury rates
• 66% report they have a greater ability to contract new work
• 66% report better project quality.
Uneven Acceptance
Clearly, firms are taking safety seriously. This is particularly critical given that construction activity is rebounding with strong growth expected in both the near and long term. However, not all firms are fully embracing holistic safety programs, most notably smaller firms. These firms not only give up the benefits and opportunities that a strong program can yield, but they will also start to lose any competitive edge they might have had. Therefore, smaller firms need to increase the strength of their safety programs, and in doing so they will recognize greater savings leading to better profit margins and/or lower costs to be passed onto an owner.
For more information on safety practices of contractors, including more details on the benefits as well as the triggers, drivers and obstacles for adopting strong safety management programs, the Safety Management in Construction SmartMarket Report is available for free download at ">www.construction.com/market_research.
Project Schedule Reductions | 19% report savings of two weeks or more |
| Lower Project Budgets | 24% report reductions greater than 5%(26% for firms with integrated safety programs vs. 16% for those without) |
| Improvements in ROI | 20% report improvements greater than 5%(22% for firms with integrated safety programs vs. 15% for those without) |
| Improved Reputation | 82% report improvements |
| Lower Injury Rates | 71% report improvements |
| Greater Ability to Contract New Work | 66% report improvements |
| Better Project Quality | 66% report improvements |
