Final answer:
Prioritizing health and safety in the workplace usually results in reduced absenteeism, increased productivity, and improved morale, which are all positive for a business. However, higher insurance costs would not be a result of better health and safety practices. Safer workplaces often see fewer insurance claims and thus potentially lower insurance costs.
Step-by-step explanation:
From a business perspective, emphasizing health and safety in the workplace leads to beneficial outcomes, which include Reduced absenteeism, Increased productivity, and Improved employee morale and retention. However, the one outcome that does not result from prioritizing health and safety is Higher insurance costs due to more claims; in fact, the opposite is typically true. Companies with strong health and safety programs may experience lower insurance costs due to fewer claims, as a safer workplace would naturally lead to fewer injuries and illnesses.
Emphasizing workplace safety can lead to productivity gains similar to when consumers get better or less expensive products, which enables businesses to increase profits. Moreover, improved workplace safety can protect employees, similar to how bureaucratic systems aim for increased efficiency and productivity in their operations. Notably, companies that ignore safety protocols can face serious financial and reputational damage, as seen in historical cases such as the Firestone/Ford tire controversy.