List of Major Costs:
Let’s take a further look at the costs when a forklift pedestrian accident occurs:
Worker’s Compensation – the company pays approximately $35,000 to $40,000 in expenses per injured person
Repair & Damages – repair to the forklift, but let’s remember it had to hit something. This could be another forklift, piece of equipment in the facility and/or the infrastructure itself.
Loss of Workers – The cost of replacing the worker or workers is an added expense. But so are the cost of workers calling in sick, and reduced productivity because the workers feel unsafe. As a result, morale goes down. We just talked about this a couple weeks ago.
Loss to the Bottom Line – It goes without saying that the loss of an employee has a cost. According to industry reports, this cost is approximately $1,000 per person. In addition, consider the cost of management searching for a replacement, as well as trying to figure out what happened.
Legal Fees – Their time is spent on minimizing the company’s expenses; however, their fees need to be calculated as well. They don’t come cheap.
OSHA Fines – OSHA fines and violations need to be added in as well.