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Hidden Costs of Not Training

There is a strong correlation between the economy, the level of investment made in safety, and the number of accidents that occur. When the economy is booming, more money is available to spend on training and safety programs. However the chance of accidents occurring also goes up with the frequency of the work schedule. The flip side of that is that during a recession, less work may mean fewer opportunities for accidents, but often investment in safety and risk management is scaled back to cut costs. Upgrades to aging equipment are delayed, payrolls are streamlined putting more responsibility on fewer employees, and there is an increased risk of accidents.

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