The Economic Burden of Work Accidents and Occupational Diseases: Understanding the Invisible Costs

Abstract

This study analyzes the economic burden of work-related accidents and diseases, examining both direct and indirect costs at micro, mezzo, and macro levels. The findings underscore the broader impact of these incidents, from individual workers to social security systems, and propose strategies for minimizing these economic burdens through preventive measures and safety improvementsAs in all processes involving human and machine elements, it is expected that unexpected events or developments will occur in business life and that these events will lead to unforeseen results. These unforeseen results will definitely have economic effects. These effects will occur at the micro level as well as at the mezzo and macro levels. In other words, a work accident or occupational disease concerns not only the worker or his employer, but also everyone from the end consumer to other companies; from social security institutions to private health insurance institutions. The aim of this study is to analyze the cost of work- related accidents and diseases. For this first we will define work-related(occupational) accident and diseases. Then we will demistify their direct and indirect costs. Then we will offer some basic precautions to avoid these costs. For this purpose, a literature review will be conducted, and data analyses will be performed. Reanalyzing the numerical data from previous studies with a renewed and alternative perspective will support reaching significant findings. From the beginning of study it has been known that work related accidents and diseases have direct and indirect, implicit and explicit costs. After new findings and renewed analyses to introduce new measures.