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DR. D.Y. PATIL UNIVERSITY DEPARTMENT OF BUSINESS MANAGEMENT
Subject: Personnel FinanceProf. Mrs. Sharmila Kulkarni
Cost of Health and Safety Environment of a Company
PRESENTED BY
KEVIN MASCARENHAS
SAMPADA MEHER
ARTI PIMPALE
MADHURI DANGAT
SNEHA GENTYAL
PRIYANKA GADHAVE
Introduction For smooth functioning of an organization, the employer has to ensure health and safety of his employees.
Health and safety form an integral part of work environment. A work environment should enhance the well being of employees and thus should be accident free.
The terms health and safety are closely related to each other. Health is the general state of well being. It not only includes physical well being, but also emotional and mental well being.
Safety refers to the act of protecting the physical well being of an employee. It will include the risk of accidents caused due to machinery, fire or diseases.
Responsibility of Health and Safety Policy
In organizations the responsibility of employee health and safety falls on the supervisors or HR manager.
Responsibilities of Managers: Monitor health and safety of employees Coach employees to be safety conscious Investigate accidents Communicate about safety policy to employees
Responsibilities of Supervisors/departmental heads: Provide technical training regarding prevention of accidents Coordinate health and safety programs Developing safety reporting system Maintaining safe working conditions
BENEFITS OF HEALTH AND SAFETY ENVIRONMENT
To the Employees: - Improved health awareness and knowledge
Improved physical and mental wellbeing
Increased energy and vitality
Increased work enjoyment and fulfillment
Improved concentration and productivity
Improved team relationships.
To the Employers:-
Improved productivity
Increased creativity and innovation
Improved employee engagement
Improved staff morale
Reduced sickness-related absenteeism
Increased attraction and retention of staff
Reduced workplace injury and workers compensation costs
Improved employee relations
Improved corporate image
Health and Safety Acts in India
Factories Act, 1948
Mines Act, 1952
Workmen's Compensation Act, 1923
Dock Workers (Safety, Health & Welfare)Act, 1986
Costs of Health and Safety Environment to the Company
DIRECT COSTS
Workers compensation payments Medical expenses
INDIRECT COSTS
Training replacement employees Accident investigation and implementation of corrective measures Lost productivity Costs associated with lower employee morale and absenteeism
EXAMPLE OF A COMPANY
MAXVAL TECHNOLOGIES PRIVATE LIMITED
INTRODUCTION
Maxval is an end-to-end commercial real estate solutions and services provider catering to hundreds of companies and governmental organizations in the real estate and construction spheres, across the world.
Location: CBD - Belapur, Station Complex, T-251 – 6th FloorNo. of Employees: 2011 – 2012 - 2002012 – 2013 - 265No. of Departments: 7
HEALTH AND SAFETY COSTYEAR 2011 – 2012
(Maxval Technologies Pvt. Ltd)
COSTS Per Person Per Month Per Year
Health
Easy Health Insurance (200 employees)
Rs. 1,208 Rs.2,41,600 Rs. 28,99,200
First Aid (Medicines) - Rs. 1,500 Rs. 18,000
Yoga and Meditation Sessions - Rs. 1,125 Rs. 13,500
Safety
Fire Safety (Insurance) - Rs.1,00,000 Rs. 12,00,000
Provision for Accidents (200 employees)
Rs. 1,050 Rs.2,10,000 Rs. 25,20,000
First Aid (Injury) - Rs. 1,325 Rs. 15,900
Lift Maintenance ( 2 lifts x Rs. 2,350/lift)
- Rs. 4,700 Rs. 56,400
TOTAL COST Rs. 67,23,000
*Source: HR – Maxval Technologies Private Limited
COSTS Per Person Per Month Per Year
Health
Easy Health Insurance (265 employees)
Rs. 1,208 Rs. 3,20,120 Rs. 38,41,440
First Aid (Medicines) - Rs. 1,750 Rs. 21,000
Yoga and Meditation Sessions - Rs. 1,350 Rs. 16,200
Safety
Fire Safety (Insurance) - Rs. 1,00,000 Rs. 12,00,000
Provision For Accidents (265 employees)
Rs. 1,150 Rs. 3,04,750 Rs. 36,57,000
First Aid (Injury) - Rs. 1,525 Rs. 18,300
Lift Maintenance ( 2 lifts x Rs. 2,650/lift)
- Rs. 5,300 Rs. 63,600
TOTAL COST Rs. 88,17,540
HEALTH AND SAFETY COSTYEAR 2012 – 2013
(Maxval Technologies Pvt. Ltd)
*Source: HR – Maxval Technologies Private Limited
COMPARISON(2011 – 2012) - (2012 – 2013)
Reasons for increase in the costs of Health and Safety Environment
Increase in no. of employees
High Rate of Inflation
Yearly increase in Maintenance Cost
SUGGESTIONS
Should Maintain Records of Accidents, injuries & illness
Should Conduct programme on Health Related Issues on time to time
Should conduct Self Inspection Programme in areas like:
Lighting
Building and Grounds Conditions
Should provide Safety to Women for travelling purpose, especially for night shifts
CONCLUSION