Top 10 Workplace Injuries Cost Businesses Nearly $50 Billion Per Year

top 10 workplace injuries cost billions of dollars each yearEach year thousands of workplace injuries take place, not only through many of the jobs listed as one of the 20 Most Dangerous Jobs, but also through other less extreme positions as well. These injuries range anywhere from a minor sprain to something as serious as paralyzation costing businesses billions of dollars each year.

Per the 2017 Liberty Mutual Workplace Safety Index, serious, nonfatal workplace injuries now amount to nearly $60 billion in direct U.S. workers’ compensation costs per year; close to $50 billion for the top 10 most disabling of those injuries. This translates into around $1 billion or more per week that businesses are potentially responsible for in workers’ compensation claims. But it’s not just the financial burden that’s troubling; it’s the number of workplace injuries taking place.

Breakdown of Workplace Injuries and Costs to Businesses

According to the Liberty Mutual Workplace Safety Index, here are the top 10 types of worker injuries and how much they cost businesses.

  1. Overexertion involving outside sources. Injuries related to lifting, pushing, pulling, holding, carrying or throwing objects, cost businesses $13.79 billion in direct costs and accounted for 23 percent of the overall national burden.
  2. Falls on same level amounted to direct costs of $10.62 billion and accounted for 17.7 percent of the total injury burden.
  3. Falls to a lower level cost $5.50 billion and 9.2 percent of the burden.
  4. Struck by object or equipment cost $4.43 billion and 7.4 percent.
  5. Other exertions or bodily reactions cost $3.89 billion and 6.5 percent of the total injury burden.
  6. Roadway incidents involving motorized land vehicle cost $3.7 billion.
  7. Slip or trip without fall cost $2.3 billion.
  8. Caught in/compressed by equipment or objects cost $1.95 billion.
  9. Struck against objects or equipment cost $1.94 billion.
  10. Repetitive motions involving micro-tasks cost $1.81 billion.

Understanding the types of injuries and the costs associated with those that happen on the job can help businesses determine where they can help create a safer workspace for their employees. Employers, as well as third-party participants in the cause of the injury may be held liable for additional compensation to the injured worker if there was negligence that led to the cause of the injury.

Law firms that focus on workplace injury may be able to help the injured worker recover the compensation they are owed for both economic and noneconomic damages. Personal injury attorneys work closely with experts involved in your case and utilize the top technology available to determine the proper amount of compensation you may be entitled to depending on the type and cause of your injury.

 

References:

Jan 11, 2017 Sandy Smith. (n.d.). Businesses Spend More Than $1 Billion a Week on Serious, Nonfatal Workplace Injuries. Retrieved January 27, 2017, from http://ehstoday.com/safety/businesses-spend-more-1-billion-week-serious-nonfatal-workplace-injuries

Workplace Safety Index. (n.d.). Retrieved January 27, 2017, from https://www.libertymutualgroup.com/about-lm/research-institute/communications/workplace-safety-index