Well today I came across a very interesting term called safety capital. The concept basically suggest a new dimension in the organisational health and safety field. It says that unlike traditional methods where only tangible resources were used to implement safety measures, firm should increasingly invest in the intellectual capital i.e. knowledge and capabilities. Moroever, most of the measures used by the companies today are reactive as in they are applied once the accident or injury has already occured. The integration of knowledge management in the health and safety field suggests that if we create a KM system it will not only act as preventive measure but also infuse the safety culture within the very roots of the company. I found the concept of the safety capital very important and applicable to modern day businesses. The intellectual resources i.e. knwoledge and capabilities can help a company achieve its managerial objectives in the fiels of health and safety and can moreover be a source for gaining competitive advantage. It is also a way of gaining trust of your employees.
Implementation of such system to an extent focuses too much on tactical knowledge as most of the research conducted in the safety field comes from the personal experience of an individual who can immediately apply his finding to solve the problem. But for knwoledge to really add value, it must be shared. Comapnies should take knwoledge sharing and knwoledge trasferring endeavours to exchange knwoledge within individuals, teams and social group and facilitate the process of organisation learning. If you read more about this concept, you'd also find that safety captial has three main elements: human, structual and social. These three components can help facilitate and manage knwoledge.
Well, there are a number of best practices relating to health and safety that you can find. But without the supprotive knwoledge management system these practices can be of little use. Knowledge can also help organise and structure all the resources that the company invests in health and safety. Overall, health and safety should be seen as a cruicial part of any company. Companies should invest in this area as it can produce a number of benefits.