Final answer:
Indirect costs for workplace accidents are the secondary financial impacts that result from an accident. Increased workman's compensation insurance premiums, lost productivity, training costs for new staff, and damages to reputation are examples. Implicit costs like depreciation of damaged equipment are also considered indirect.
Step-by-step explanation:
Indirect costs for workplace accidents are those not directly tied to the injury itself, but are rather the secondary financial impacts that result from an accident. These can include a variety of factors such as increased workman's compensation insurance premiums, loss of productivity due to employee absence, costs associated with training replacement workers, and potential damages to the company's reputation.
For example, if an employee suffers an injury, the immediate expenses such as medical bills and compensation for the employee are direct costs. However, the organization may also face indirect costs like operational delays, administrative time spent on handling the incident, and costs related to investigating the accident and implementing corrective measures.
Furthermore, if equipment was damaged during the incident, there would be additional costs to repair or replace it, and possibly a decrease in the value of the equipment due to depreciation. These represent the implicit costs associated with workplace accidents, as opposed to the explicit costs of out-of-pocket payments.