Not only does rapid response in an emergency save lives it also protects economics and personal incomes. The benefits of using our Structural Health Monitoring System will deliver a good return on investment by stopping unnecessary business closures, and loss of wages. The mental wellbeing of employees is also crucial. Knowing they are returning to a safe workplace will impact positively on productivity which will lead to economic benefits. There is factual evidence that the uncertainty of a buildings status impacts on productivity during historical seismic events.
Even a small to medium business of 200 staff can make potential savings in the case of an earthquake building status. See the scenario below.
Cost saving scenario
Scenario: Large corporate building, three stories high with 200 staff.
As the building is not considered a priority it remains empty for seven days waiting for engineer assessments to take place.
The cost to business:
Staff costs: 200 staff working 8 hours per day = 11,200 hours
@ $30 per hour average = $336,000
Loss of productivity: Equal too or greater than wage cost $250,000 (conservative figure)
Total cost of a 7 day evacuation: $586,000
Early decision-making will save the distress of income loss that could have been avoided. Being prepared will put you in the best position to manage a swift recovery.
Find out more about cost benefits.
Engineers are able to access data on a specific building or specific floor at all times. Thresholds are set by the Engineer, with knowledge of ground composition and the materials and design of the structure.
Reaction to what the data tells us will guide immediate action to whether your building is safe, needs further assessment or needs evacuation.
The ongoing monitoring prior to, or after an event can highlight potential risks that can be managed and remedied. This will benefit negotiations around insurance premiums and excess increases against actual structural soundness of a building – managing costs.