Understanding the value of workplace safety and health is too often an exercise in waiting until an incident – or even a tragedy – occurs. Yet the value of safety is an increasingly multi-dimensional concept due to changing trends and dynamics well beyond physical risk.
NSC – in partnership with and funded by Lloyd’s Register Foundation and assisted by a panel of experts – commissioned a study into the new value of safety, which represents a first step toward redefining safety in 2023.
This research highlights three organizational concepts that generate a broad value and drive a holistic approach to safety management for highly embedded and emerging risks. These concepts include:
1. Human and Organizational Performance (HOP)
2. Total Worker Health (TWH), developed by the National Institute for Occupational Safety and Health (NIOSH), which covers:
● Serious injury, illness and fatality prevention
● Mental health
● Psychological safety
3. Environment, Social and Governance (ESG), which covers several initiatives shaping modern safety excellence, including diversity, equity and inclusion (DEI)
● A full report, providing a detailed look at the New Value of Safety model and its parts, as well as recommendations for action
● A full literature review, providing insights into the trends, frameworks and context informing the synthesis and creation of the model
● An activation guide, providing methodologies and case studies to help put the model into practice
This research will help enable businesses to address safety holistically and mitigate risks from multiple directions. We encourage you to use it to inform your safety strategy going forward.