"This report aims to shed light on the socio-economic costs of accidents at work and the incremental benefit of prevention for companies if they develop and implement effective health and safety management policies. Accidents at work and work-related ill health have an impact on individuals, companies and on society. Each of these groups is confronted with economic consequences. The report discusses the uneven distribution of costs among these three groups and the different cost categories. Systematic information on costs of accidents or work-related ill health is not available from administrative statistical data sources or regular surveys on health and safety at work. The methodological considerations for valuing the consequences of accidents and ill-health are based on an extensive review of the available literature.
The calculation of costs and benefits for companies can increase awareness at management level that may help to stimulate the introduction of preventive actions which, in turn, will result in the reduction of accidents and work-related ill-health. Therefore, the special focus of the study is the calculation of costs at company level. The report presents the results of the multiple case studies with the cost-benefit analysis of the suggested prevention measures. A key message of the report is the need to consider the calculation of costs and benefits as a management issue with an added value on company management practices. The evidence collected in the case studies shows that investing in occupational safety and health makes good business sense. The report is accompanied by a publication presenting the key messages illustrated by case studies. The report and the publication are meant to enable employers and workers organisations and representatives, policy makers, managers and authorities to get an overview of the economic aspects of health and safety management. The reports shows that investing in prevention pays back and the calculation of costs and benefits on company level may be a helpful and convincing economic argument on the prevention choices. "

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