According to the 2018 Liberty Mutual Workplace Safety Index, nonfatal workplace injuries cost U.S. businesses nearly $60 billion in direct costs alone.
The top 10 most disabling injuries account for 88% of those costs and five of the top 10 injuries are musculoskeletal disorders (MSDs), including overexertion involving an outside source, falls on the same level, other exertions or bodily reactions, slip or trips without a fall, and repetitive motions. These injuries are costing U.S. companies $32.9 billion in workers’ compensation per year.
The good news is MSDs are preventable. In fact, 53% of all workplace injuries can be prevented by simply adjusting the way that workers use their bodies, interact with their environment, and move every day.
Over time, failing to prevent musculoskeletal injuries not only hurts a company’s workforce, it can also significantly impact the company’s bottom line. According to the Centers for Disease Control and Prevention, indirect costs conservatively double the cost to a company’s bottom line, although most insurance and risk management specialists estimate that hidden costs range between four and seven times the direct cost.
Implementing a musculoskeletal injury prevention program will not only impact important business KPIs such as employee retention, productivity and morale, but it will make a significant financial impact on your company’s bottom line.