Paper presented at the Australian and New Zealand Academy of Management (ANZAM) 7. Human Resource Management Interactive Session Workplace Health and Safety – what Role for the Business Case? Professor Peter Gahan Director, Centre for Workplace Leadership, University of Melbourne pgahan@unimelb.edu.au Ben Sievewright Centre for Workplace Leadership, University of Melbourne benjamin.sievewright@unimelb.edu.au Paul Evans Centre for Workplace Leadership, University of Melbourne evansp@unimelb.edu.au Raymond Harbridge Centre for Workplace Leadership, University of Melbourne harbridger@unimelb.edu.au Jesse E. Olsen Centre for Workplace Leadership, University of Melbourne jesse.olsen@unimelb.edu.au Abstract: Investment in WHS provides a positive return through reduced costs associated with poor WHS outcomes and improved productivity and other value-added outcomes. We have however three caveats: businesses should look beyond the direct economic costs and benefits, to the broader strategic, longer-term value associated with better WHS outcomes; business case strength varies significantly and can be contingent on factors often outside of the business’ direct control; business case strength may vary over time with changing business conditions. Hence, developing a business case, using the same business methodologies deployed in other areas of business investment and decision-making, is a powerful means to induce greater awareness and commitment to improving WHS outcomes, but may not achieve an optimal level of investment in WHS. WHS needs to be complemented by regulations that enforce standards and an understanding of the broader responsibility to maintain a safe and healthy workplace. Keywords: Workplace health and safety; Business case; Cost-benefit analysis; strategic value. 1