When you’re busy managing a company, it’s easy to overlook potential safety risks and the possible liability these risks represent.
Several sound business reasons exist for devoting time to building a safe workplace, such as:
Every business has slightly different needs when it comes to safety. However, once you focus on workplace safety, you can take steps to minimize your company’s risk. Here are six simple, cost-effective ways to reduce your company’s vulnerability and keep your workplace and your profits safe.
For many businesses, documenting safety procedures doesn’t have to be complicated. Depending on your industry, all you may need to do is keep a list of employee contact numbers updated so that managers can easily reach their people in the event of bad weather or any other emergency. Other basic safety measures include:
Starting from scratch with your safety efforts? The U.S. Department of Labor Office of Labor and Health Administration (OSHA) offers businesses a wealth of free workplace safety resources.
Nothing discourages troublemakers like a tidy workplace. While it may seem minor, keeping your buildings, landscape and worksite clean, neat and in good repair tells potential thieves your business is likely to be as well guarded as it is well tended. This means you should:
Appearances alone may be enough to discourage lawbreakers, as well as give you and your employees a workplace to point to with pride.
No manager can be everywhere and know everything. That’s why you should listen to your employees when they express concerns about workplace safety. Use your team as extra pairs of eyes, since they may see things you didn’t notice, such as:
To promote a safety culture, be sure to thank employees for bringing issues to your attention rather than fussing about the cost of repairs or additional security measures.
If your business handles cash regularly, you probably already follow basic safety precautions, such as varying your time and route to deposit the cash.
To reduce the risk of embezzlement, establish clear, consistent rules for how much cash employees may access or handle at any one time; what documentation is required and when to record the intake or outflow of cash; and where and how much cash should be stored on site.
You may already train your employees to recognize phishing attacks sent by email, but do you train them in other aspects of workplace safety?
Depending on your industry and location, you may need to remind employees to wear protective clothing, keep their employee badge visible, drive company vehicles safely, walk to their cars in pairs, and more. It’s also a good idea to develop and communicate procedures for what to do in the event they receive a suspicious package, face an upset customer, or find unauthorized personnel in a secure work area such as your server room.
People tend to underestimate the cumulative effect that long-term stress from bullying or threats can have on their workforce. What’s more, many company leaders are uncomfortable confronting bad behavior, thinking that a shouting match between employees will blow over, or that a raging client is just having a bad day.
In reality, studies show such behaviors are often precursors to more extreme behavior, even violence. That’s why workplace safety experts recommend you adopt a zero-tolerance policy and call the police immediately if a customer or employee becomes threatening or aggressive. It’s also important to be aware of and stop any bullying or intimidation going on in your workplace.
Giving some thought to your safety plans and procedures reassures potential buyers that proper precautions have been put in place to ensure the health and continuity of your company.
Following these six suggested steps will also better position you when negotiating with buyers for your company. Buyers loathe risk and liability. Having documented (and followed) safety procedures will give them peace of mind that the company they are acquiring is a safe work environment from day one.
If the idea of casting a wide net for buyers intrigues you and the concept of an equity firm possibly being in your future is novel, then you need to attend a Generational Equity exit planning conference soon.
Our meetings are designed to educate business owners on all facets of buyers and M&A activity today and going forward. The time you spend there will be well worth the investment when you decide the time is right to sell your business.
To learn more about Generational Equity and our conferences, please use the following links:
By Jessica Johns Pool.
© 2018 Generational Equity, LLC. All Rights Reserved.
it all started with a conference.
start your story today,
speak directly with one of our senior advisors +1-972-232-1121
The information we learn from customers helps us personalize and continually improve your experience. Here are the types of information we gather.
We receive and store any information you enter on our Web site or give us in any other way. We do not sell or rent your personal information to others without your consent. We use the information we collect only for the purposes sending promotional information, enhancing the operation of our site, serving advertisements, for statistical purposes and to administer our systems. We DO NOT use third parties to provide customer service, to serve site content, to serve the advertisements you see on our site, to conduct surveys, to help administer promotional emails, or to administer drawings or contests, but reserve the right to do so in the future without advance notice.
Generational Group’s affiliates are all part of one corporate family, they work with one another and may work together to provide services to you. The sharing of your information among affiliates enables Generational Group to serve you more efficiently and makes it more convenient for you to do business with Generational Group. Generational Group is permitted by law to share information with its affiliates. All of our affiliates follow similar privacy policies.
For reasons such as improving personalization of our service, we might receive information about you from other sources and add it to our account information.
Generational Group may license the use of its intellectual property including but not limited to its name, likeness, and logo for the use of affiliated offices. Such affiliated offices may not be owned, controlled, managed, supervised or staffed by employees, officers, or agents of Generational Group. Affiliated offices may be independently owned and operated. For more information about a particular office, please contact Generational Group at its office in Dallas, Texas.
This page may contain other proprietary notices and copyright information, the terms of which must be observed and followed.
Information on this web site may contain technical inaccuracies or typographical errors. Information may be changed or updated without notice. Generational Group may also make improvements and/or changes in the products and/or the programs described in this information at any time without notice.
Generational Group does not want to receive confidential or proprietary information from you through our web site. Please note that any information or material sent to Generational Group will be deemed NOT to be confidential. By sending Generational Group any information or material, you grant Generational Group an unrestricted, irrevocable license to use, reproduce, display, perform, modify, transmit and distribute those materials or information, and you also agree that Generational Group is free to use any ideas, concepts, know-how or techniques that you send us for any purpose.
Our computer system protects personal information using advanced firewall technology.
Information Generational Group publishes on the World Wide Web may contain references or cross references to other products, programs and services that are not announced or available in your country. Such references do not imply that Generational Group intends to announce such products, programs or services in your country. Consult a Generational Group representative for information regarding the products, programs and services which may be available to you.
Generational Group makes no representations whatsoever about any other web site which you may access through this one. When you access a non-Generational Group web site, please understand that it is independent from Generational Group, and that Generational Group has no control over the content on that web site. In addition, a link to a non-Generational Group web site does not mean that Generational Group endorses or accepts any responsibility for the content, or the use, of such web site. It is up to you to take precautions to ensure that whatever you select for your use is free of such items as viruses, worms, Trojan horses and other items of a destructive nature.
IN NO EVENT WILL Generational Group BE LIABLE TO ANY PARTY OR ANY DIRECT, INDIRECT, SPECIAL OR OTHER CONSEQUENTIAL DAMAGES FOR ANY USE OF THIS WEBSITE, OR ON ANY OTHER HYPERLINKED WEBSITE, INCLUDING, WITHOUT LIMITATION, ANY LOST PROFITS, BUSINESS INTERRUPTION, LOSS OF PROGRAMS OR OTHER DATA ON YOUR INFORMATION HANDLING SYSTEM OR OTHERWISE, EVEN IF WE ARE EXPRESSLY ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
Furthermore, all information contained within this website is the property of Generational Group.
Success, you have been added to our list.