5 Reasons Why Risk Reduction Could Help with Improving Your Bottom Line

The roofing industry requires employees to work at dangerous heights and face the potential for injury or even fatal falls every day. That’s why one of the first considerations for roofing business owners should be risk. 

For small or new roofing businesses, prioritizing safety can seem daunting due to the costs, the need for additional equipment, extra policies and procedures, and the necessity of worker training programs. However, taking steps to improve safety can pay off significantly–here’s the inside scoop.  

5 Ways Risk Reduction Helps Improve Bottom Lines for Roofing Businesses 

1. Set Yourself Apart from Competitors

When you prioritize your workers' and clients' safety, you open the door to opportunities to set yourself apart from other competitors who might not place enough emphasis on safety policies. Every homeowner fears a roofer falling off their roof. By showing concern for the safety of your personnel and your clients, you're one step ahead of competitors, can charge a premium, and gain a trusted clientele. 

2. Reduce High Insurance Premiums

With high risks common in the roofing business, insurance companies can charge hefty prices to insure your company. By providing a proven, consistent dedication to safety, you can lower costs over time with insurance carriers, leading to higher profits. Talk up your safety practices while shopping for better insurance rates, and let insurance carriers compete for your business.

3. Expanding Business to Large Companies and Corporations

Large, reputable corporations will only do business with roofing contractors whose safety policies match their needs. By sustaining a clean safety record, you make yourself available to more profitable job bids. Use your risk reduction policies as a selling point to highlight your ability to lower the customer's risk and land commercial roofing jobs by touting your ability to lower risk for all parties.

4. Turn Your Business Into a Well-Oiled Machine

Running a safer business impacts every aspect of your company. Every decision and process, from the initial client intake to the job completion, should be made with safety in mind. This results in better organization and a more unified business. 

Lower risk equals peace of mind for all employees and higher productivity. Greater productivity equals higher profits. When your employees know you’re dedicated to their safety, they’re more motivated to put in extra effort and do the best possible work. 

5. Increase Productivity

While a business may not intend to make mistakes, we're all human, and mistakes happen. No one likes to lose time due to injuries or losses. Increased safety protocols can minimize errors and time loss in jobs. Implementing well-thought-out safety protocols decreases the odds of accidents and injuries and increases overall productivity. 

Enhancing Safety and Improving Your Bottom Line: A Path to a Stronger Roofing Business

As you can see, safety can go a long way and lead to a more robust roofing business admired by employees and consumers. If you have questions about how The Lane Law Firm can help improve your bottom line, schedule a time to talk to our team!