The Business Case for a World-Class Health and Safety Program

Health and safety are cornerstones of Performance Solutions by Milliken. Our field-tested principles drive performance excellence, providing compelling business reasons to invest in a top-tier program through the Milliken Safety Way.

Why Is It So Important to Invest in Health and Safety Programs?

The daily safe return home of every worker is the goal of every U.S. manufacturer. Yet the gap between that goal (i.e., zero recordable incidents) and practice remains alarmingly wide.

At Milliken, safety is not just a priority; it is a fundamental part of our culture. We have achieved an outstanding safety record and just celebrated our best safety numbers in 15 years. This success is a result of our unwavering commitment to fostering a safety-first environment. Our dedication to safety is particularly notable in an industry where, according to the U.S. Bureau of Labor Statistics, over 370,000 cases of nonfatal manufacturing injuries and illnesses were recorded in 2020. The impact of these incidents is profound, affecting the well-being of workers and their families and leading to potential financial costs such as worker compensation rates, healthcare expenses, litigation, and the challenges of staff recruitment and training.

It’s not surprising that more manufacturers pledge to advance their programs beyond the compliance levels set by the Occupational Health and Safety Administration (OSHA) or their manufacturing trade association. The catalyst to go beyond compliance often includes:

• The business case for crafting a culture of health and safety is a powerful one.
• Yet, what is a culture of health and safety?
• How does that translate across senior leadership, manager ranks and frontline workers?

At PSbyM, we explore these questions and more, sharing field-proven insights gleaned across dozens of leading manufacturers in paper and packaging, food and beverage, chemicals, CPGs, medical devices, building and construction, metals, and others.

A Response to Persistent Workplace Injuries or a Major Tragedy.

An organizational reckoning can become an inflection point in the life of a company, as leadership rallies the company to observe a higher health and safety standard.

For example, in the late ‘80s, Roger Milliken, former President and CEO of Milliken, vowed, "We must make certain that an incident will never occur, ever again," in response to an injury at one of the company’s finishing plants. His declaration sparked what is arguably today the manufacturing gold standard for global plant health and safety.

Recognition That a Good Health and Safety Record Can—And Should—Be Improved

A world-class health and safety program is more than a firm’s 'people above profits' declaration. It’s a smart business investment.

Not long ago, researchers analyzed the stock performance of 26 publicly traded companies that won the C. Everett Koop National Health Award, a national honor for exceptional health behavior change and risk reduction. A 15-year study concluded Koop Award winners produced returns that topped the S&P 500 index by 235%. Koop Award winners also held their stock value better in down markets and recovered faster in improving markets.