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The Economic, Business and Value Case for Health, Safety and Well-Being

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Managing Health, Safety and Well-Being

Part of the book series: Aligning Perspectives on Health, Safety and Well-Being ((AHSW))

Abstract

This chapter explores the economic, business and value case for the promotion of health, safety and well-being (HSW) which are recognized as key priorities in the current literature. There is a wealth of data demonstrating that in the long term, the most successful and competitive companies are those that have the best health and safety records, and the most physically and mentally healthy and satisfied workers. In spite of the evidence, companies are not always willing to implement initiatives for the promotion of HSW largely due to lack of awareness of the strong business case and benefits of promoting HSW initiatives. In this chapter, we first explain the link between employment, work and HSW outcomes which impact the vitality of society, organizations and workers. We then illustrate the ‘materiality’ of HSW by reviewing the literature and evidence base on the business case for HSW management. While the business argument has often looked at the hard and cold facts of economics and money, the chapter concludes by highlighting the importance of taking a holistic view of the business case which considers not only the economic case but the value case for protecting and promoting HSW.

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Notes

  1. 1.

    Full and productive employment, rights at work, social protection and the promotion of social dialogue are the four strategic pillars of the Decent Work Agenda. The ILO framework of decent work indicators covers ten substantive elements corresponding to these four pillars: employment opportunities; adequate earnings and productive work; decent working time; combining work, family and personal life; work that should be abolished; stability and security of work; equal opportunity and treatment in employment; safe work environment; social security; and, social dialogue, employers’ and workers’ representation (ILO, 2012a).

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Authors and Affiliations

  1. Nottingham University Business School and Centre for Organizational Health and Development, University of Nottingham, Nottingham, UK

    Aditya Jain

  2. Centre for Organizational Health and Development, University of Nottingham, Nottingham, UK

    Stavroula Leka & Gerard I. J. M. Zwetsloot

  3. Gerard Zwetsloot Research & Consultancy, Amsterdam, The Netherlands

    Gerard I. J. M. Zwetsloot

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Jain, A., Leka, S., Zwetsloot, G.I.J.M. (2018). The Economic, Business and Value Case for Health, Safety and Well-Being. In: Managing Health, Safety and Well-Being. Aligning Perspectives on Health, Safety and Well-Being. Springer, Dordrecht. https://doi.org/10.1007/978-94-024-1261-1_3

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