Financial analysis of enterprises' costs for occupational safety at risk

Abstract

This study examines the financial analysis of labor protection costs by companies at risk. It is noted that cost savings will be achieved in enterprises that pay close attention to labor protection, which will reduce the risks of industrial accidents and occupational diseases. The study conducted a thorough review of the literature in the field of occupational safety and decent and safe working conditions. To conduct a financial cost analysis and to identify specifics in the field of occupational safety, data from five enterprises in various sectors of the economy were used. To assess the effectiveness of the proposed methods, economic analysis tools such as cost–benefit analysis and return on investment (ROI) were employed. The adaptive approach ensured that the industry-specific characteristics of Kazakhstani enterprises were considered, enabling the application of a standardized yet flexible cost accounting methodology. The authors note that, for the first time in the country, expenses for occupational risk assessment and workplace certification were introduced in 2024. The authors conducted an in-depth financial analysis of the structure and directions of labor protection costs across various sectors of the economy, including a comparative analysis using data from three socially significant enterprises focused on sustainable development. The study covered three years of data indicators and included ten key categories of expenses. The financial analysis revealed both general patterns and unique features of accounting for labor protection costs at each enterprise. The identified spending trends indicate an active approach to workplace safety, resulting in significant investments in employee training, personal protective equipment, and improved working conditions. These measures aim not only to ensure compliance with regulatory requirements but also to minimize production risks specific to each industry.