Serious Workplace Injuries Cost U.S. Businesses $62 Billion Annually

Workplace injuries and accidents that cause employees to miss six or more days of work cost U.S. employers nearly $62 billion in 2013, the most recent year for which statistically valid injury data is available from the U.S. Bureau of Labor Statistics (BLS) and the National Academy of Social Insurance.
That’s according to the Liberty Mutual Workplace Safety Index.
Now in its 12th year, the study’s ranking of the top leading causes of the most serious workplace accidents is remarkably consistent with earlier findings.
The 10 leading causes of the most disabling work-related injuries account for more than $51 billion, or 82.5% of the total cost of $62 billion.
“We rank the top 10 causes of the most serious, nonfatal workplace injuries by their direct costs each year to help companies improve safety, which better protects both employees and the bottom line,” says Debbie Michel, general manager, Liberty Mutual’s National Insurance Casualty operation.
“Workplace accidents impact employees’ physical, emotional and financial well being.
“They also financially burden employers, who pay all of the medical costs related to a workplace injury, together with some portion of an injured employee’s pay.
“Beside these direct costs, workplace injuries also produce indirect costs for employers, such as hiring temporary employees, lost productivity, quality disruptions, and damage to a company’s employee engagement and external reputation.”