A report of the Bureau of Labor Statistics (BLS) reveals that between 1998 and 2000, car crash–related injuries within and outside business operation involving employees cost the employers about $60 billion annually. The data also shows that a company loses on average more than $500,000 due to the effects of fleet vehicle accident to business, particularly in direct and liability cost when a fatality happens on the job and about $74,000 for each nonfatal injury.
But it’s not the end of it. The cost of lost productivity, vehicle idle time, cancelled assignments, and the lost on revenue due to wounded reputation, when factored is a considerable amount. That’s how much the company loses when an accident occurs on employees.
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Colossal Effects of Fleet Vehicle Accident to Business
Lost Productivity
You can’t just move and go away after you’ve been involved in a car crash. The damage has to be assessed first, then collect insurance, and file police report—all these take time, the time your employee should spend on working.
Vehicle Idle Time
Your vehicle will be off the road for a while depending on the damage on the vehicle. Mild or severe, your vehicle still needs to be shopped and that would take a while. With tracking technology, GPS protect company assets.
Cancelled Appointments
Employee is injured and your vehicle is in rehabilitation, that would mean late or missed deliveries and unhappy customers. And if a customer is not satisfied or happy with a service, they tend to look for other suppliers.
Wounded Reputation
Stamping company logo on the side of the company vehicle is a good business practice since it acts as a moving advertisement for the company. But if the vehicle has been involved in a road accident, it becomes a bad publicity for the company. Poor driver behavior leaves a bad impression.
With regards to the negative effects of fleet vehicle accident to business, an at-fault car crash won’t make just a huge dent on your budget but will also damage your business’ reputation. You need a solution that will minimize the risk of a vehicle accident. Set up your fleet with a GPS tracker.
Trackimo is a reliable tracking device you can use for your fleet of vehicles. The device allows you to keep tab on your driver’s road behavior. The system will allow you to identify the drivers who are not following road rules and could cause your next vehicle accident. You could take immediate action on them such as providing them training on safe driving and counseling.
Prevent vehicle accident before they happen by knowing how your drivers act on the road. With it, you are protecting your employees, your vehicles, as well as your business.
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