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Countering The Risk of Daily Work-Life Through Safety Culture Commitment

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If we take a look at statistics, the number of occupational injuries has reduced over the past 50 years. Although this may sound encouraging, there are still 6000 deaths every day due to workplace accidents. This is because there are still many business owners for whom safety is an afterthought.  It’s only when an employee gets injured that they become aware of the significant implications of neglecting safety.  Unfortunately, it is difficult to regain employee trust and restore your reputation once such an incident happens. Not to mention that there are also financial implications; according to https://www.howmuchcompensation.co.uk/ , employees can claim compensation for work-related accidents that will help cover their medical bills.

Employees are the most valuable resource in your company, and they should come to work without being worried they may get injured or lose their lives in an accident that most of the time can be prevented. But this requires responsibility from the part of the employers, who must evaluate potential hazards in the workplace and do what it takes to protect employees from getting harmed.

If you want to learn more about the importance of building a safety culture in your business, keep reading.

Evaluating your organization’s culture: important areas of focus

You can’t commit to safety within your organization until you get clear on your current attitude towards it and what you have done until now in this regard. So, the first thing you want to do is assess the safety culture in your company by focusing on nine main areas:

Views on health and safety.

How is health and safety perceived at your company? Is it recognized as something crucial, or do people treat it in a superficial way? What about employees? Do they understand their roles regarding health and safety and the policies in place? Asking these questions is an essential step in evaluating safety culture.

Management and leadership involvement.

Executives and managers of a company should commit to the best health and safety practices, so consider whether they truly prioritize it and how involved they are in safety decisions.

Employee involvement.

Creating a powerful safety culture isn’t just management’s job – employees should also contribute to it. This is not a one-way street: everyone at the company should prioritize this aspect. So, you want to consider whether they are encouraged to participate in safety initiatives and develop policies and procedures.

Education and training.

You can’t expect employees to carry out their work tasks adequately if you don’t provide health and safety training. This is a critical step in driving your safety culture, ensuring everyone understands the risks associated with their job and how to mitigate them.

Communication.

Effective communication plays a major role in building a safety culture and improving workflow within the organization. So, consider whether team members simply get a generic message or if it is tailored based on their roles.

Accountability.

Employees will get more involved in safe behaviors if they understand they are also responsible for protecting their co-workers. So, determine if they are held accountable for following the procedures in place and what are the consequences for not doing so. It’s worth noting that blaming or punishing employees is never the right thing to do. It will only have negative effects, leading to an unhealthy workplace. Instead, you should take this as an opportunity to understand the root cause of their behavior.

Investigation and incident reporting.

Incidents should be investigated rapidly to take corrective actions as soon as possible. But this can only happen if employees report an unfortunate situation. So, make sure to check whether this is currently a practice within your company.

On-going improvement.

You can’t build a solid safety culture unless you focus on continuously enhancing your health and safety program. This involves assessing safety performance frequently by using the right metrics, measuring progress, and identifying strengths and weaknesses in the current program related to health and safety.

Technology.

Technology can be very effective in creating a strong safety culture at your company. If you use a tech tool, you should evaluate whether it is working properly and if employees can use it with ease.

A positive safety culture is a vital ingredient of the recipe for business success

The purpose of investing in a safety culture is to reduce workplace accidents. And while this may initially seem like a benefit for employees, it also has a positive impact on the bottom line of your business. Committing to safety translates into lowered costs, at the same time reducing the loss of employees and boosting loyalty and trust in the management of the company. Moreover, it increases employee morale and productivity. This means they will complete more tasks in less time, thus contributing to the growth of your organization.

Obviously, one of the greatest benefits of committing to health and safety is that it will create an excellent impression on customers. This positive reputation also has the potential to attract investors who do not put their money into a company without evaluating the work environment and employee conditions. Attracting more customers and investors brings more income to your organization, which is the ultimate goal. It is pretty straightforward: as long as you take care of your employees, your business will flourish. On the contrary, if you fail to protect them, your reputation will fall. This makes it difficult to retain and recruit top talent.

Final thoughts

It is easy to identify companies with a positive safety culture, as they share essential characteristics, including powerful accountability, continuous improvement of safety procedures, effective communication, risk mitigation, and empowered employees. When you stand out as an organization that prioritizes employees’ health and well-being, you increase the odds of attracting the best people at your company who share similar values and are motivated to use their skills to help your business thrive. Yes – investing in a safety culture takes a lot of commitment and effort. But it is really worth it, given its major impact on your organization’s bottom line.

So, will you consider the tips above and become a safety culture leader?

Brad Anderson

Editor In Chief at ReadWrite

Brad is the editor overseeing contributed content at ReadWrite.com. He previously worked as an editor at PayPal and Crunchbase. You can reach him at brad at readwrite.com.

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Fintech Kennek raises $12.5M seed round to digitize lending

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Google eyed for $2 billion Anthropic deal after major Amazon play


London-based fintech startup Kennek has raised $12.5 million in seed funding to expand its lending operating system.

According to an Oct. 10 tech.eu report, the round was led by HV Capital and included participation from Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One. Kennek offers software-as-a-service tools to help non-bank lenders streamline their operations using open banking, open finance, and payments.

The platform aims to automate time-consuming manual tasks and consolidate fragmented data to simplify lending. Xavier De Pauw, founder of Kennek said:

“Until kennek, lenders had to devote countless hours to menial operational tasks and deal with jumbled and hard-coded data – which makes every other part of lending a headache. As former lenders ourselves, we lived and breathed these frustrations, and built kennek to make them a thing of the past.”

The company said the latest funding round was oversubscribed and closed quickly despite the challenging fundraising environment. The new capital will be used to expand Kennek’s engineering team and strengthen its market position in the UK while exploring expansion into other European markets. Barbod Namini, Partner at lead investor HV Capital, commented on the investment:

“Kennek has developed an ambitious and genuinely unique proposition which we think can be the foundation of the entire alternative lending space. […] It is a complicated market and a solution that brings together all information and stakeholders onto a single platform is highly compelling for both lenders & the ecosystem as a whole.”

The fintech lending space has grown rapidly in recent years, but many lenders still rely on legacy systems and manual processes that limit efficiency and scalability. Kennek aims to leverage open banking and data integration to provide lenders with a more streamlined, automated lending experience.

The seed funding will allow the London-based startup to continue developing its platform and expanding its team to meet demand from non-bank lenders looking to digitize operations. Kennek’s focus on the UK and Europe also comes amid rising adoption of open banking and open finance in the regions.

Featured Image Credit: Photo from Kennek.io; Thank you!

Radek Zielinski

Radek Zielinski is an experienced technology and financial journalist with a passion for cybersecurity and futurology.

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Fortune 500’s race for generative AI breakthroughs

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Deanna Ritchie


As excitement around generative AI grows, Fortune 500 companies, including Goldman Sachs, are carefully examining the possible applications of this technology. A recent survey of U.S. executives indicated that 60% believe generative AI will substantially impact their businesses in the long term. However, they anticipate a one to two-year timeframe before implementing their initial solutions. This optimism stems from the potential of generative AI to revolutionize various aspects of businesses, from enhancing customer experiences to optimizing internal processes. In the short term, companies will likely focus on pilot projects and experimentation, gradually integrating generative AI into their operations as they witness its positive influence on efficiency and profitability.

Goldman Sachs’ Cautious Approach to Implementing Generative AI

In a recent interview, Goldman Sachs CIO Marco Argenti revealed that the firm has not yet implemented any generative AI use cases. Instead, the company focuses on experimentation and setting high standards before adopting the technology. Argenti recognized the desire for outcomes in areas like developer and operational efficiency but emphasized ensuring precision before putting experimental AI use cases into production.

According to Argenti, striking the right balance between driving innovation and maintaining accuracy is crucial for successfully integrating generative AI within the firm. Goldman Sachs intends to continue exploring this emerging technology’s potential benefits and applications while diligently assessing risks to ensure it meets the company’s stringent quality standards.

One possible application for Goldman Sachs is in software development, where the company has observed a 20-40% productivity increase during its trials. The goal is for 1,000 developers to utilize generative AI tools by year’s end. However, Argenti emphasized that a well-defined expectation of return on investment is necessary before fully integrating generative AI into production.

To achieve this, the company plans to implement a systematic and strategic approach to adopting generative AI, ensuring that it complements and enhances the skills of its developers. Additionally, Goldman Sachs intends to evaluate the long-term impact of generative AI on their software development processes and the overall quality of the applications being developed.

Goldman Sachs’ approach to AI implementation goes beyond merely executing models. The firm has created a platform encompassing technical, legal, and compliance assessments to filter out improper content and keep track of all interactions. This comprehensive system ensures seamless integration of artificial intelligence in operations while adhering to regulatory standards and maintaining client confidentiality. Moreover, the platform continuously improves and adapts its algorithms, allowing Goldman Sachs to stay at the forefront of technology and offer its clients the most efficient and secure services.

Featured Image Credit: Photo by Google DeepMind; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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UK seizes web3 opportunity simplifying crypto regulations

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Deanna Ritchie


As Web3 companies increasingly consider leaving the United States due to regulatory ambiguity, the United Kingdom must simplify its cryptocurrency regulations to attract these businesses. The conservative think tank Policy Exchange recently released a report detailing ten suggestions for improving Web3 regulation in the country. Among the recommendations are reducing liability for token holders in decentralized autonomous organizations (DAOs) and encouraging the Financial Conduct Authority (FCA) to adopt alternative Know Your Customer (KYC) methodologies, such as digital identities and blockchain analytics tools. These suggestions aim to position the UK as a hub for Web3 innovation and attract blockchain-based businesses looking for a more conducive regulatory environment.

Streamlining Cryptocurrency Regulations for Innovation

To make it easier for emerging Web3 companies to navigate existing legal frameworks and contribute to the UK’s digital economy growth, the government must streamline cryptocurrency regulations and adopt forward-looking approaches. By making the regulatory landscape clear and straightforward, the UK can create an environment that fosters innovation, growth, and competitiveness in the global fintech industry.

The Policy Exchange report also recommends not weakening self-hosted wallets or treating proof-of-stake (PoS) services as financial services. This approach aims to protect the fundamental principles of decentralization and user autonomy while strongly emphasizing security and regulatory compliance. By doing so, the UK can nurture an environment that encourages innovation and the continued growth of blockchain technology.

Despite recent strict measures by UK authorities, such as His Majesty’s Treasury and the FCA, toward the digital assets sector, the proposed changes in the Policy Exchange report strive to make the UK a more attractive location for Web3 enterprises. By adopting these suggestions, the UK can demonstrate its commitment to fostering innovation in the rapidly evolving blockchain and cryptocurrency industries while ensuring a robust and transparent regulatory environment.

The ongoing uncertainty surrounding cryptocurrency regulations in various countries has prompted Web3 companies to explore alternative jurisdictions with more precise legal frameworks. As the United States grapples with regulatory ambiguity, the United Kingdom can position itself as a hub for Web3 innovation by simplifying and streamlining its cryptocurrency regulations.

Featured Image Credit: Photo by Jonathan Borba; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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