Does ISO 45001 Certification Make You More Profitable?

Does ISO 45001 Certification Make You More Profitable?

Today we’re going to be breaking down the question of does ISO 45001 Certification make your organisation more profitable? It’s something that we hear on a constant basis, and it’s worth elaborating on because a management system like ISO 45001 – Occupational Health & Safety – has a number of benefits. These benefits start with directly addressing any existing OH&S risks in your organisation, and build upon your existing business plan to anticipate areas of potential to capitalise on in the future. 

While the tangible benefits of lessening your organisation’s exposure to workplace risks and meeting regulatory requirements might present themselves in the near future, the matter of ISO 45001 certification making you a more profitable organisation is something that you need to work toward; and we’re here to help as you start your journey toward continual improvement. 

ISO 45001 Certification from Best Practice

What is ISO 45001? 

ISO 45001:2018 is an international standard that targets occupational health and safety management in an organisation, regardless of its size, scope or operations. It provides organisations with a framework in which to build a comprehensive management system that protects the health and safety of those working in an organisation, as well as any relevant stakeholders. In essence, it is the leading Occupational Health and Safety system, governed by an internationally recognised organisation, ISO. 

ISO 45001 certification aims to impart a continual cycle of performance in the context of occupational health and safety, as well as meeting any and all legal or regulatory requirements in your industry. It has been created, revised and rewritten by a committee of technical experts with experience in the space of occupational health and safety. 

Does ISO 45001 Certification Make You More Profitable?

Why is ISO 45001 Certification Important? 

ISO 45001 certification is immensely important when it comes to meeting regulatory mandates and assembling a tailor-made occupational health and safety system to your organisation. Rather than give your organisation a ready-to-go safety system, ISO 45001:2018 is designed to be applied to your operations specifically, so you can target problematic or risky areas of your operations and mitigate threats moving into the future. It’s important to consider that as your organisation grows, risks can present themselves in areas that are difficult to anticipate. The system helps to inform management teams of these areas, asking them to study their own operations and plan for potential dangers as you move into the future.

Does ISO 45001 Certification Make You More Profitable?

Some of the more immediate benefits of ISO 45001 Certification include: 

  • You’ll be eligible to work on larger, more lucrative projects reserved for companies with an OH&S system in place 
  • You’ll gain a more comprehensive understanding of your operations
  • You’ll address risks in your operations, and minimise the potential of on-site accidents and deaths
  • Inspire consumer and stakeholder confidence in your ability to plan for, and mitigate risks
  • Overcome regulatory hurdles
  • More informed decision making in-line with risk-based thinking and the plan-do-check-act cycle of improvement

Does ISO 45001 Certification Make Your Organisation More Profitable? 

There are countless opportunities while implementing your occupational health and safety management system to identify areas of opportunity, reducing risks throughout your operations and ensuring your organisation is acting in accordance with government regulations. From a fiscal standpoint, your organisation is significantly more resilient in the face of regulatory requirements and reduced exposure to risk as the result of a workplace injury or death that your organisation is implicated in. 

Does ISO 45001 Certification Make You More Profitable?

In terms of whether or not a system like ISO 45001 can make your organisation more profitable, an Occupational Health & Safety system like ISO 45001 is designed to be tailored to your operations, and can identify new areas of improvement and help to tackle areas of risk in your supply chain. In the process of implementing your ISO 45001 system, you’ll be asked to take an intimate look at your organisation’s operations and at times, implement new systems and policies to address risks and areas of opportunity. As you implement these new processes, you can find new means of operating that embrace efficiencies, and help you deliver a high quality product or service for your customers at a reduced cost of delivery. 

Aside from ensuring regulatory compliance and inspiring customer and stakeholder confidence in your organisation – which help in terms of reputation and profitability of the organisation – the process of implementing ISO 45001 means that you’re taking a comprehensive approach to business improvement. While the ISO 45001 – Occupational Health & Safety Management System – isn’t necessarily designed to increase your organisation’s profitability, due to the fact that you’re meeting regulatory requirements, minimising your operating risks and taking a proactive approach to business improvement, it’s fair to say that a system like ISO 45001 can help make businesses more resilient to risks as they move into the future, enable you to work on new projects and open up new opportunities for your bottom line. 

With a system like ISO 45001 – Occupational Health & Safety Systems – the process of implementation alone can be an invaluable opportunity for you to identify risks and opportunities. Due to its international reputation, ISO 45001 is recognised by regulatory bodies and governments as a class-leading OH&S standard, and this means your organisation’s reputation increases alongside it in the context of health and safety. 

Don’t wait until it’s too late, the human and financial cost of a workplace death or injury can be fatal for an organisation. Get in contact with Best Practice today to see how ISO 45001 can make you a safer and more profitable organisation today.

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