How Much Could A Lack Of Fire Safety Measures Cost You?
From destroying valuable data to severely injuring employees, the cost of a workplace fire can be devastating. And yet despite the risks involved, many business owners overlook their fire safety responsibilities in a bid to save time and money. However, whether you’re tempted to cancel a risk assessment or wait a few months before replacing fire safety equipment, your attempts to cut short term costs could cost you thousands in the event of a disaster. In some cases, it could leave your business unable to function. Here are just a few ways you could be financially burnt in the event of a fire:
If any employees suffer from burns, smoke inhalation or any other injuries during a fire on your premises, their absence could cause significant disruption to the running of your business.
Not only will you need to cover the cost of their sick pay, you might also have to pay for replacement staff to cover their absence. If an inspection determines that you were responsible for the fire or sufficient prevention measures were not in place, you may have to pay compensation to your employees.
Even if no one was hurt in the fire, you may experience a decrease in morale when everyone returns to work. Following a fire or accident within the workplace, it’s not uncommon for employees to feel unsafe or upset, particularly if the incident occurred as a result of employer negligence. This could have an impact on productivity and may cause work to pile up and clients to express their dissatisfaction with your service. If the fire led to employee absence, you may have to devote time and money to training replacement workers.
Following a fire in your workplace, the incident is likely to be investigated by health and safety experts and fire safety inspectors. They’ll work to determine the cause of the fire and will assess whether or not sufficient safety measures were in place. If it’s found that you were neglectful and failed to follow government fire safety guidelines, you may face expensive legal costs.
Damage to Buildings and Equipment
If your premises and contents are damaged in a fire, insurance can help to soften the financial blow. However, the amount of support you’ll get is likely to depend on the cover you selected and the circumstances of the fire. If the incident was your own fault and preventative measures weren’t followed as outlined in your insurance agreement, you may be liable to cover some of the costs yourself.
Loss of Data
A fire within your business can cause a lot of destruction in a short space of time. If computers, files and documents are destroyed, you could lose a considerable amount of data which can come with a huge financial cost.If customers’ data is affected, they may lose trust in you. Customer trust can be difficult – and expensive – to win back, so it’s crucial you do everything you can to minimise the risk of fire. To learn more about fire safety within your business, please get in touch with the team at Total Fire Services.