'Safety makes business units sustainable'

VISAKHAPATNAM: Pointing out that safety makes a business unit sustainable, joint chief inspector of factories D Chandra Sekhar Varma said that even a small accident can lead to huge direct and indirect costs for industries.
Participating in a seminar on industrial safety organised by the Confederation of Indian Industry (CII) Vizag chapter on Friday, Varma said that funds spent on safety not only improve returns for companies in the long run but also increase a company's brand value.He also said that performance management has to be proactive in order to identify how many accidents or mishaps were prevented due to safety measures being followed by industries.
Mentioning that usually safety is seen only as a legal obligation, Varma said that the challenges also include shortage of change leaders and resistance to change. He said that every employee should be a safety officer in their company. Absence or lack of safety in the workplace and any damage done to the environment and eco-system affects the very root of sustainable business for any production unit, Varma added.
Stating that sustainability is the buzzword at present, he said that economy, environmental protection and social accountability are the influencing factors for sustainability. He said building a safety culture will only add value to industries. CII Vizag zone chairman Neeraj Sarda said that worldwide USD 1.25 trillion is lost due to workplace related accidents, injuries and illnesses.
Joint chief inspector of factories D Chandra Sekhar Varma said that funds spent on safety not only improve returns for companies in the long run but also increase a company's brand value