LONDON--(EON: Enhanced Online News)--A strong health and safety policy is important both to create a good working environment and to maintain a strong relationship with customers. Infiniti Research notes that safety systems and policies boost productivity and contribute to shareholder value. Accidents and injuries, aside from being harmful to the individuals involved, are also costly in terms of factors such as damaged equipment and lost productivity. Additionally, if customers do not feel that a company is taking their wellbeing into consideration, they are likely to spend their money elsewhere.
Infiniti Research recently completed a competitive intelligence study on behalf of a leading telecommunications equipment company, providing a benchmark for health and safety policies and a better understanding of customer risk tolerance.
Physical health isn’t the only thing that can impact productivity. Awareness and understanding of mental health issues is growing, and companies are beginning to take this into account when designing and implementing policies.
The Mental Health Commission of Canada (MHCC) recently completed a three-year study on companies implementing the National Standard of Canada for Psychological Health and Safety in the Workplace, which was launched in January 2013. The standard is a global first, and consists of guidelines, tools, and resources for preventing psychological harm and promoting mental health in the workplace. 40 Canadian organizations across multiple industries participated in the study. Compliance with the standard increased by almost 20% over the course of the study, with 70% of companies providing early intervention and 66% enhancing awareness of mental health among employees. It also may have contributed to improved mental health and safety, as employees living with depression and working for a company following the standard are found to be missing five fewer days of work a year.
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Because mental and physical health can have such an impact on everything from productivity to customer service, it is vital to have a comprehensive policy in place. Market intelligence can help identify important areas of focus, as well as provide details on what other companies are doing and what customers are demanding. A strong health and safety policy can make your organization more competitive in multiple ways, and attract good employees.
In its latest market and competitive intelligence study, Infiniti Research market analysts worked to offer an in-depth understanding of the health and safety policies followed by competitors and the guidelines set by various industries. Infiniti performed a comprehensive analysis of end-user industries, customers, and major competitors, and offered strategic market insights to help the client implement and adhere to stringent health and safety guidelines and subsequently establish a strong presence in the industry.
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About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies.
With 13 years of experience and offices across three continents, Infiniti Research has been instrumental in providing a complete range of competitive intelligence, strategy, and research services for over 550 companies across the globe.