How to Save Six Figures
The Hidden Value of Hiring a Qualified Snow and Ice Professional
In the short term, looking to sign a season contract with a qualified snow and ice professional for your property, costs can seem overwhelming. This is especially true when you are trying to manage the property on an already tight budget. However, the hidden value of doing so, can end up saving you millions of dollars in the long term.
Firstly, the revenue lost if your business is forced to shut down due to a snow or ice event. Jon Hurst, President of the Retailers Association of Massachusetts told the Boston Herald that “conservatively” retailers in the state have lost $10 million for each day that they’ve been closed due to snow. Every minute that your business is not operating, you are losing not only dollars that could’ve been made, but also your reputation is exposed to damage, you’re risking the loss of loyal customers, and greater repercussions to accumulate.
Secondly, if you do in fact open during a snow and ice event but your property wasn’t properly treated, accidents will likely occur. According to the National Safety Council, slips, trips, and falls are one of the most common and most costly workplace incidents across all industries. The total cost burden to businesses for workplace injuries and illnesses was nearly $60 billion in 2014, according to the Liberty Mutual Safety Index. While slips and trips accounted for over $11 billion of that total, almost 20%.
Bear in mind, during a recent study performed on winter seasons performed by the Snow and Ice Management Association, found that the average claim for a snow or ice related slip and fall injury is $33,000. If this average slip and fall claim was submitted by an employee, you are now looking at a cost of $48,000 due to the worker’s compensation that will follow. Adding to this cost, is the fact that an employee will miss an average of 38 work-days, costing millions of dollars to organizations in lost productivity, decreased morale, while also driving up future insurance costs of around an additional $50,000.
And thirdly, inefficiencies. JC Grounds Management owner, Jonathan Crandall stated that, by utilizing more efficient equipment, he’s been able to reduce the length of time needed to complete plowing services by 30-40%, while also reducing the need for deicing by utilizing sectional, metal-edged containment plows. He continued, that although it is a costly investment, it is a notable difference in quality and speed of which we’ve been able to service our clients’ properties. The correct equipment being used helps reduce snowpack, while demanding less deicing services needed at the completion of a snow event. Which in turn, lessens the clients cost, exposure to slip and fall claims, while also helps clients maintain their environmental responsibility.
