Employee Safety in MSMEs
Nishchay Sinha
Director Metlok Pvt. Ltd. || Director Metlok Precoat Services Pvt. Ltd. || MBA IIM Kozhikode BL’2023 || M.Engg Stevens Institute of Technology
Due to carelessness or minor safety compromises, major calamities occur because of the expansion of industry and massive industrialization worldwide. Millions of industrial accidents result in fatalities, lost man- and machine hours, and lost production time. Moreover, there is a significant financial loss due to the maintenance and replacement of machinery and equipment, staff remuneration, and occasionally lost income because of customer delivery delays. It is essential to address these issues.
These issues can quickly occur in MSMEs where the battle for the top line often overlooks these soft but hugely essential aspects of working conditions that are acceptable for employee safety.?
SMEs make up most enterprises globally and play a significant role in employment creation and the expansion of the global economy. In emerging economies, the GDP contribution from formal SMEs might reach 40%. When informal SMEs are considered, these figures are substantially higher. In India, there will be roughly 63 million micro, small, and medium-sized businesses (MSMEs) by the end of the 2020 fiscal year. These small businesses have minimal financial resources, facilities, and workspace, as well as antiquated equipment, little labor, and little understanding of and familiarity with safety issues. According to my actual industry experience, most micro-enterprises are unable to meet even the most basic safety requirements. The safety of people is seriously at risk. The hour is necessary for these organizations to receive the proper information and funding.
It's necessary to clearly distinguish between "regular disasters" and "surprises," two categories of industrial disasters. Experts have a good understanding of common calamities that can be managed using tried-and-true guidelines. Surprises are incredibly diverse and far less understood; they defy expert and lay expectations. They include unforeseeable calamities like the Bhopal gas tragedy and its devastating aftermaths. It is challenging to devise precise anticipatory measures of the kind that have been effective in decreasing common hazards since surprises are unanticipated events.
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So what can MSMEs do to ensure employee safety?
Well, there are several possible solutions that many MSMEs owners/employees don't even know about and which are cost-effective. The following proposed solution will not only ensure the safety of employees but also might improve productivity and earn profits for the company!?
?In conclusion, the best use of personal protective equipment, appropriate routine and preventive maintenance, enough light and air circulation, and adherence to all safety standards of the respective industry/activity standards can help to minimize industrial accidents and the ensuing consequences of human loss, injury, lost production time, and of course financial loss.
IIM Kozhikode BL'23| Entrepreneur| Trader | Investor
2 年Well written nishchay??