Organizations regularly face challenging resource allocation decisions in an effort to remain competitive and profitable. With sometimes competing demands on scarce funds, managers need to allocate resources wisely across all parts of the organization. Consequently, complete information on the costs and consequences of health and safety (H&S) initiatives can be critical to the decision making process.
Researchers at the Institute for Work and Health (IWH) conducted a study where the objective of was to develop and deliver a training workshop on economic evaluations of health and safety programs for workplace parties - managers, labour representatives, and OHS practitioners. The findings from this project indicated the need for learning opportunities on the principles and application of economic evaluation of OHS programs.
The Health & Safety Smart Planner is a software tool designed to calculate the costs and benefits of workplace health and safety initiatives, as well as the costs of health and safety incidents. The tool is designed for workplace occupational health and safety (OHS) professionals, OHS consultants and anyone else involved in planning or undertaking a workplace-based health and safety initiative.
You do not need economics training to use this tool, because it has been designed with economic principles built into it. The Health & Safety Smart Planner has a number of distinct features that make this step-by-step approach easy to use.