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May Q&A: Available now
This month, the Making Sense team answers client questions related to trade policy developments and their impacts on key economic issues.
By its very nature, electrical work can be hazardous. The good news is that fatal injuries decreased in 2020 compared to the prior year, according to the latest Electrical Safety Foundation International report. However, approximately 2,220 nonfatal injuries—an increase of 17%—resulted in subsequent days away from work.
To address the inherent job risks, businesses employing electrical workers should consider conducting a periodic electrician safety check to make sure the proper precautions are in place and working as intended. It may save your business more than money.
Accidents or injuries related to electrical work can occur anywhere, whether inside private residences, factories or even during power line repairs. Construction sites in particular pose many hazards from electrical work.
According to the Occupational Safety and Health Administration, or OSHA, some of the most frequent causes of electrical injuries reported on construction sites include:
OSHA also notes that electricians may suffer from ergonomic injuries, such as muscle strain or muscle fatigue due to frequent bending or lifting heavy equipment.
Prior to the beginning of each job, a hazard assessment should be completed to identify injury risks. A checklist can be used to document the findings. Any safety issues identified should be communicated to workers, along with the appropriate actions they need to take—such as wearing personal protective equipment, or PPE, to reduce risks and avoid accidental injury. Hazard assessments should be based on current industry standards and individual state safety requirements. It's also good to remember that unsafe companies may also face legal risks and the costs of litigation.
A safer work environment can be a competitive advantage when businesses are looking to hire electrical workers in a tight job market. Using a wide range of protective safety equipment can also bring down the cost of insurance premiums. From basic PPE to the latest energy-sensing technology, businesses should evaluate the options that will provide the best protection based on the type and location of work performed.
Electrical businesses will need to provide workers with the necessary equipment to enhance on-the-job safety. Include the following in your electrician safety check.
If new safety tools are required to address electrical risks, consider financing an equipment lease or purchase with a loan or line of credit. By investing in communications software, safety equipment and employee training, electrical companies will benefit in the long run through lower worker absenteeism. In the end, it's clear that workplace safety and proper training are essential for organizational success.
This material is for informational purposes only and is not intended to be an offer, specific investment strategy, recommendation or solicitation to purchase or sell any security or insurance product, and should not be construed as legal, tax or accounting advice. Please consult with your legal or tax advisor regarding the particular facts and circumstances of your situation prior to making any financial decision. While we believe that the information presented is from reliable sources, we do not represent, warrant or guarantee that it is accurate or complete.
Third parties mentioned are not affiliated with First-Citizens Bank & Trust Company.
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