Many contractors view running a safety program as something they do to comply with local, state, and federal regulations. What they don't realize is that an effective safety program actually saves money, resulting in increased profits. LOWERS INSURANCE COSTS To determine worker's compensation insurance rates for contractors, insurance companies frequently use an experience modification rating (EMR). An EMR adjusts worker's compensation premiums based on a company's record of injury frequency and costs. Contractors with safe work records are rewarded with lower premiums and those with poor safety records are penalized with a surcharge. PREVENTS DAMAGE TO EQUIPMENT AND MATERIALS Serious and expensive accidents can result when workers are not instructed in the proper and safe use of tools and equipment. Additional expenses incurred include the cost of clean up at the accident site, and the costs of repairing or replacing damaged materials. INCREASES PRODUCTION One-third of all injuries in the masonry industry can be directly related to poor housekeeping. A messy jobsite not only creates hazards, but also fosters sloppy work attitudes that hurt productivity. KEEPS JOBS ON SCHEDULE An effective safety program helps keep a job on schedule by helping to prevent disruptions and delays.