The American Society of Safety Engineers (ASSE), the US Occupational Safety and Health Administration (OSHA) and more than 25 OSHA Alliance Programme participants will use the week to illustrate how safety is not only good business, but also saves lives.

The goal of the week is to focus the attention of employers, employees, the general public and all partners in occupational safety, health and the environment on the importance of preventing injury and illness in the workplace.

The CMAA, HMI and MMA have signed a formal alliance with the US safety regulatory body OSHA.

As part of the deal, the associations produce more safety guidance, organise safety conferences, and distribute existing best practice more widely. They also promote compliance with federal standards and promote OSHA safety programmes.

NAOSH Week provides an international stage from which it can illustrate how safety performance is good for business and for life.

In the US alone, occupational injuries and illness expenditures total nearly $171billion a year, according to the sources used by the event organisers. It has also been reported that injury and illness costs can approach up to 5% of an organisation’s total costs. Additionally, establishing and sustaining effective safety and health systems can reduce costs by 20-40%.

Safety’s positive return on investment is gaining greater attention. A recent study by global investment company Goldman Sachs JBWere found that companies that don’t adequately manage occupational safety and health perform worse financially than companies that do.

This suggests that investors should look at a company’s occupational safety and health policies and practices as a factor in their investment strategy.