Return on investment
Implementing initiatives related to work health and safety can often be expensive, with few obvious financial gains.
However, expending resources to ensure employee health and well-being are protected can actually create a return on investment. Reducing turnover, absenteeism, compensation claims as well as increasing productivity can all contribute to the costs of initiatives being recouped.
Return on investment calculator
As part of the Healthy Workers initiative, The Australian Government Department of Health, has created a ‘workplace health savings calculator’. The calculator can calculate, based on your organisation’s average wages – the total annual savings to your organisation that would amount from a reduction in turnover or absence.
The Australian Government Department of Health’s Workplace Health Savings Calculator can calculate the return on investment of health initiatives planned to decrease absence and turnover.