Failure To Manage OSHA & Environmental Compliance Could Destroy Your Business
Many people will read the title of this video (Non Compliance Could Destroy Your Business) and think “that’s ridiculous, how could non-compliance possibly destroy a business?” If you’re one of these people, and especially if you’re a small business owner, then maybe you should think again…..
As I explained in part 1 of this 3 part video series which explores the major compliance risks facing small businesses, most small companies who are impacted by EHS regulations really struggle to manage them due to the lack of expertise, time, money and resources that is so prevalent with small companies.
Most small business owners are aware of this challenge, but what many don’t understand are the significant risks and liabilities that that this situation can create not only for their business, but sometimes for them personally if something goes wrong.
These risks and liabilities are major and can include regulatory fines and penalties, from agencies like OSHA, EPA and TCEQ, that can run into the $tens or even $hundreds of thousands of dollars (for example, did you know that the average OSHA inspection results in a $30 – $80,000 fine?), and sometimes civil and even criminal liabilities for the business owner if it can be proven that the owner was negligent in managing their environmental, health and safety compliance requirements. Criminal negligence can result in civil judgements that can run into the $millions of dollars and even jail time.
It’s not hard to imagine how these situations could potentially destroy a business……
The other major thing that many business owners don’t understand is that these kinds of situations happen every single day across the country, when employees get seriously injured or even killed on the job, or when regulators show up in the lobby unannounced.
Unfortunately throughout my career I’ve witnessed these kinds of devastating scenarios playout with associates who I’ve known personally. I saw a client go to jail for failing to manage hazardous waste management regulations, another face a multi-million civil lawsuit after a subcontractor was killed, and many face huge regulatory fines and penalties.
My point is that these situations are more common than you think, and could happen to you tomorrow if your company is out of compliance and you put your head in the sand and keep putting-off action.
The good news is that the situation is far from hopeless, and there are simple steps that you can take today to get back on track and on the road towards compliance. Checkout this video to learn more about these risks and more importantly, what steps you can take today to manage and reduce them. Push the play button before it’s too late!