Harvard Business School Conducts Study on the Value of OSHA Regulations
Controversy over the value of government regulation in the business world is nothing new. At the center of this debate is the federal agency tasked with regulating health and safety in the workplace: The U.S. Occupational Safety and Health Administration (OSHA). Advocates for OSHA believe workplace regulations are a necessity for promoting and maintaining safety; critics claim that the regulations are little more than growth-hindering, job-destroying hoops.
In an attempt to settle the debate between OSHA critics and advocates, the Harvard Business School conducted a study to evaluate the impact of workplace safety inspection, basing their analysis on random inspections conducted by California OSHA. Their findings were slightly surprising. Not only did OSHA have a positive impact on worker safety, but they also saved companies in the way of medical expenses, lost wages, and lower injury rates—without the expense of employment, credit ratings, firm survival or sales.
To read the Harvard Business School article about the study, entitled “OSHA Inspections: Protecting Employees or Killing Jobs?”, follow this link.
If you would like to view the actual study, click here.