There’s a lot of buildup toward potential compliance complications in the construction industry.
As Andy Hosman, vice president of SpheraCloud, recently wrote in an article for Property Casualty 360° magazine titled “The Critical Steps to Winning New Construction Clients,” “A construction company’s reputation is as good as its last project.” In other words, one bad outcome could have a lasting effect on a construction company’s ability to generate new business.
In the article, Hosman emphasized that a consistent pattern of quality, compliance, employee care and risk management are just as important as being able to demonstrate a pattern of being on time and under budget. In today’s competitive business landscape, insurance premiums, workers’ compensation claims and not to mention the potential for reputation loss all could affect a company’s bottom line.
As Hosman wrote, “Over the years, leading companies have institutionalized sound practices as part of their corporate DNA. Any compromise on quality, safety or reputation is not an option.”
For construction companies to be successful, safety cannot be a low priority or trivialized.
Unfortunately, 1 out of every 5 workplace-related fatalities occur in the construction sector, according to the U.S. Occupational Safety and Health Administration, including from falls, being struck by an object, electrocutions and getting caught between equipment. Additionally, Hosman explained that 5 out of the 10 most frequent OSHA standard citations are applicable to the construction industry, such as fall protection, hazard communication, scaffolding and ladder incidents.
“Investment in robust processes, systems and employee training need not be at the scale pursued by multibillion-dollar corporations,” Hosman wrote. “Cost effective, lightweight and smart technology platforms are available in the market today to automate much of this operational risk framework at budget-conscious construction companies as well.”
We at Sphera believe that no workplace-related fatality is acceptable. It’s up to construction companies to do everything they can to mitigate risk for the safety of their workers. Please contact us to learn more about how Sphera’s Operational Risk Management software can help your organization.