Oct 09, 2013 / Written by Woody Myers
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accidentOn the job automobile accidents might seem like a minor nuisance to business owners but they can drag down a company’s efficiency long after the scene has been cleared.  But a joint report by NETS, NHTSA and OSHA found out how accidents can have a toll on a company’s bottom line.

The average crash costs an employer $16,500. When a worker has an on-the-job crash that results in an injury, the cost to their employer is $74,000. Costs can exceed $500,000 when a fatality is involved.

Once you know the costs associated with motor vehicle crashes you will realize that the costs associated with implementing a driver safety program are minimal compared to the costs of crashes to your organization. Examples abound of the positive return-on-investment (ROI) realized by companies ? small, medium, and large ? that have implemented well-designed safety programs for the benefit of their employees. In fact, the Liberty Mutual Insurance Company reported in 2001 that, based on its Executive Survey of Workplace Safety, 61 percent of surveyed business executives believe their companies receive an ROI of $3.00 or more for every $1.00 they spent on improving workplace safety

There’s even a “Costs of Traffic Crashes to Employers” worksheet at the end of that report that allows you to add up the numbers for yourself.  Besides the direct costs like workers? compensation benefits, vehicle towing & impoundment fees, and more, there’s indirect costs that sap other employees’ time.  The fleet manager will have to coordinate repair & replacement of the vehicle as well as reassign other drivers to cover the missing driver.

A way to cut down on accidents is to limit speeding and reckless driving.  RACO Interactive’s GPS Tracking can do just that.  Real-time alerts can immediately notify you if a driver is going over the speed limit, accelerating too quickly, taking sharp corners, and more.

For more information on complete solutions like fleet tracking, asset tracking, and more contact a product specialist at 1-800-446-1991.