Safety Should Be a Performance Driver

Safety is regarded as an indispensable right for customers and employees. Government agencies exist to enforce standards, and firms spend millions testing their products and creating safe workplace environments. And yet products are frequently recalled, and workplace accidents continue to happen. Why aren’t companies doing better on safety?

Most executives frame safety as a compliance issue. They see it as a cost and, consequently, they underinvest in it. They tend to treat safety as an abstract value rather than as a driver of performance. And when a safety crisis hits, they often react with unsustainable measures, generally aimed at managing their public image.

To help companies get out of this rut, the authors present evidence that safety can be a key driver of performance. Then they offer a five-step process for leaders: align on the definition of safety, agree on which metrics to use, anticipate and prevent problems, customize safety training, and incentivize employees to adopt preventive behaviors. By reimagining safety not as a defensive necessity but as an offensive opportunity, companies can elevate safety from a siloed function to a shared mindset, and from a cost center to a value accelerator.