Recent studies have shown that safety training in high-risk industries can significantly increase the reporting of workplace harm. According to the Lloyd’s Register Foundation’s World Risk Poll 2024 report, nearly one in five people worldwide has experienced serious harm at work in the past two years. In South Asia, this number is even higher, with a reported rate of 27%, surpassing the global average.
Nancy Hey, Director of Evidence & Insight at LRF, highlighted the importance of targeted strategies to address these alarming figures. She emphasized that Occupational Safety and Health (OSH) training is crucial in reducing workplace harm, especially in industries like construction, manufacturing, utilities, and transportation. Workers who have received safety training in the past two years are three times more likely to report incidents, allowing for quick and careful intervention.
While many industries have implemented safety training programs, there is still room for improvement, particularly in high-risk sectors like construction, manufacturing, and transportation. Hey stressed the need for tailored safety training that addresses the specific hazards present in each industry. By knowing where the harm is, organizations can effectively manage and mitigate risks.
Moreover, recent safety training not only improves reporting rates but also enhances the overall safety culture within organizations. Hey pointed out that understanding the context and risks specific to each industry is crucial in developing effective safety training programs. Different sectors face unique challenges, and safety training should be adapted to address these challenges accordingly.
In addition to safety training, it is essential for organizations to invest in building electric vehicle (EV) production facilities in South and Southeast Asia (SSEA). Carmakers are projected to invest over $20 billion in establishing EV production facilities in the region, providing an opportunity for Chinese manufacturers to diversify their operations and customer base. This move allows them to export vehicles to markets like Europe, where direct imports of Chinese-originated EVs face high tariffs.
Japanese automakers are expected to see a gradual decline in market share as EV adoption increases, but they are likely to maintain dominance due to their expertise in internal combustion engine vehicles and fuel-efficient hybrids. Korean carmakers are strategically investing in SSEA to capitalize on the region’s growth potential and offset weaker market shares in China.
Overall, investing in safety training and EV production facilities in high-risk industries can not only improve workplace safety and reporting but also drive business growth and competitiveness in the global market. By prioritizing safety and innovation, organizations can create a safer work environment and contribute to the sustainable growth of their industries.
