Investing in safety: the real game changer for industries

Occupational safety and health are the starting points for economic growth. Investing in technology on behalf of their development is the best way to deliver revenue with this year’s scenario.

How does safety impact business?

According to the G20 document about economic impact delivered by the International Labour Organization*, industrial production fell on average around 28% only between February and April 2020. And, despite a rebound in activity, industrial production remained below its pre-crisis level by June. With new strains appearing this last month, and even though the vaccines seem to shed some light on this scenario, we are still facing, at least, a complex and uncertain year.

Aside from 2020’s context, and seeing how some industries could return to their pre Covid activity, late year´s numbers show how leveraging technological advances can anticipate and prevent work accidents and should be one of the top priorities in industrial companies. In 2018, according to OSHA (Occupational Safety and Health Administration), there were 4,779 worker fatalities in the private industry in the United States.

From a business point of view, it is relevant to observe that industrial workplace accidents come along with dozens of unexpected problems: fines, worker’s compensation, dealing with lawyers, increase in insurance costs, loss of production and/or equipment, crisis and media management, among others. This costs not only money, but valuable time. For instance, in 2018, according to Injury Facts (organization depending on the National Safety Council), the total cost of work-related injuries rose up to $170.8 billion, and the total time-loss of 70,000,000 days.

Investing in safety: What can technology offer us?

Also , by using IIoT and AI, we can collect and provide a huge amount of data that is used in multiple ways, for safety and non-safety purposes: setting up better protocols and processes according to your own operation; improving logistics and supply chain; detecting different behaviours in the fastest way possible and allowing you to fix it before it produces more damage.

It is then fair to say that decisions made for safety concerns create benefits that go far from their original goals, impacting economic growth as well. Technology not only protects your employees, and in this particular scenario provides industries the right environment in order to continue operating, but it can also help them reduce production times and boost their management and operation.

Safety is the starting point of economic growth

Safety must not become one of many priorities; it should be one of the most important values and assets of every industry. Not only is it the right thing to do, but it will also take your business to the next level, with higher standards that can bring long term economic profit. Taking the decision of investing in industrial technology is the real game changer for these times.

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Drixit Technologies

We digitalize and automatize industrial spaces, preventing and mitigating accidents and boosting operational excellence. Safe teams, efficient processes.