Atlanta Partner Comments on the Real Cost of a Worker’s Life
Atlanta Partner Ed Foulke was quoted in EHS Today. The article "What's the Real Cost of a Worker's Life?" discusses the financial impact for companies that neglect workplace safety.
"In reality, companies almost never know the real cost of workplace fatalities because they don't factor in all of the indirect hidden costs,” Ed points out. “Those hidden costs could include replacing damaged tools and equipment; time lost and overhead costs incurred when work was disrupted; lost orders or billing rights for government contracts; failure to meet production deadlines; and the cost of bad publicity. Throw in legal costs and various HR issues (loss of efficiency due to decreased morale or break-up of work crews, not to mention the difficulty in attracting new employees), and it's safe to say that it's difficult, if not impossible to calculate the cost of a human life."