Every workplace—whether it’s an office, a construction site, or a hospital—faces risks. These can include injuries, equipment failure, fires, or even cyber threats. 

Risk management in the workplace means identifying these dangers early, taking steps to reduce them, and having a plan in place if something goes wrong. It helps protect employees, avoid costly downtime, and keep operations running smoothly.

In Canada, nearly 1,000 workers die each year due to work-related incidents, and over 270,000 injuries are reported annually, according to the Association of Workers’ Compensation Boards of Canada (AWCBC). 

These numbers show just how important it is for organizations to invest in proper risk management strategies. 

By using updated data and learning from past incidents, businesses can better understand where they’re vulnerable and take real steps to protect their teams.

This is where statistics on risk management in the workplace play a vital role. They help employers see trends, pinpoint common hazards, and measure the effectiveness of their current safety measures. 

From injury rates to the financial cost of workplace accidents, these numbers offer valuable insights that can guide safer, smarter decisions. 

In this blog, we will  break down some of the key statistics Canadian businesses should know and what they mean for building a safer, more productive workplace.

11 Key Statistics on Risk Management in the Workplace

Understanding workplace risk management is essential for creating safe and productive environments. By examining key statistics, we can identify areas that require attention and improvement. 

The following 11 statistics shed light on various aspects of workplace safety and risk management, providing valuable insights for employers and employees alike.

1. Fines for Repeat Safety Violations

In a significant move to enhance workplace safety, Ontario introduced the Working for Workers Six Act in 2024. 

Under this legislation, corporations convicted of a second or subsequent offence under the Occupational Health and Safety Act (OHSA) that results in the death or serious injury of one or more workers within a two-year period face a mandatory minimum fine of $500,000. 

This substantial penalty highlights the province's commitment to holding employers accountable for maintaining safe work environments. 

It serves as a deterrent against negligence and emphasizes the importance of proactive risk management practices.

2. Business Interruption Is the Top Risk

According to a recent report, 38% of Canadian businesses identified business interruption—including supply chain disruptions—as their top risk for 2025. 

This shows that many companies are deeply concerned about how global crises, local emergencies, or logistical failures could halt operations. 

Whether it’s a natural disaster, cyberattack, or labour shortage, the impact of disruption can be massive. Planning ahead with risk assessments, contingency plans, and flexible supply chains is key to minimizing damage and staying resilient.

3. Fraud Incidents Have Doubled in Canada

Fraud is becoming a major concern for Canadian businesses. Over the last 10 years, fraud incidents have doubled, affecting both internal systems (like employee theft) and external threats (such as phishing or invoice fraud). 

This rise in fraudulent activity highlights the urgent need for stronger internal controls, clear reporting processes, and regular fraud risk assessments. 

Risk management is no longer just about physical safety—it must also protect financial and data assets.

4. Incident Response Testing Can Save Millions

Data breaches are expensive, but preparation pays off. Companies that had both an incident response (IR) team and tested their IR plans saved an average of $2.66 million compared to those that didn’t. 

That’s a 58% cost savings! 

This stat proves that having a plan isn’t enough—testing it regularly is what truly makes the difference. Businesses that take the time to simulate and prepare for cyber incidents can limit downtime, reduce fines, and recover faster.

5. Supply Chain Disruptions Cost Canadian Businesses

Supply chain issues don’t just cause delays—they hit the bottom line. On average, Canadian businesses lose $184,000 per incident due to supply chain disruptions. 

Whether it's raw materials stuck in transit or vendor delays, these breakdowns can cause production halts, missed deadlines, and unhappy customers. 

This shows why businesses must invest in supply chain risk management—such as diversifying suppliers, improving forecasting, and building backup plans—to stay competitive and reduce financial losses.

6. The Role of AI in Risk Management

Artificial Intelligence (AI) is quickly becoming a core part of risk management. A KPMG survey found that 76% of financial services executives use AI for fraud detection and prevention, while 68% use it for compliance and risk management. 

From analyzing patterns to flagging unusual transactions, AI helps companies act faster and smarter. 

As threats become more complex, relying on manual checks is no longer enough—AI is now seen as essential for staying ahead of risks.

7. Firms Faced Multiple Critical Risks Last Year

A Forrester report revealed that 41% of organizations experienced three or more critical risk events in just the past year. These included cybersecurity breaches, compliance failures, and major operational issues. 

It’s a clear sign that risks are no longer rare events—they’re recurring challenges. Businesses must move from reactive responses to proactive planning by building flexible, well-tested risk response strategies to handle multiple threats at once.

8. Workplace Accidents Cost Canadian Businesses Billions

Workplace safety issues aren’t just a health concern—they’re also a financial one. Reports estimate that workplace accidents cost Canadian businesses $29.4 billion each year in lost productivity. 

These costs come from employee absences, insurance claims, equipment damage, and operational downtime. 

This stat highlights the urgent need for proactive safety training, hazard identification, and proper use of personal protective equipment (PPE) to help reduce accidents and their costly aftermath.

9. Tech Risks Are the Top Emerging Threats

In today’s digital world, cyber and technology risks are rated the top emerging threat, with 92% of business leaders calling them “important” or “most important.” This includes threats like ransomware, data breaches, and system outages. 

As businesses grow more reliant on technology, it’s essential to invest in cybersecurity measures such as multi-factor authentication, workplace safety training, and regular vulnerability testing to avoid serious disruptions.

10. Climate Risk Is Rising in Priority

Climate risk has moved up to the #5 spot on Canada’s risk concern list in 2025, with 19% of organizations worried about its physical, operational, and financial impacts—up from #7 the previous year. 

From floods to wildfires, climate-related events are now frequent and costly. This shift signals that more companies are recognizing the need to plan for environmental disruptions as part of their risk management and legal responsibilities.

11. Employee Engagement Reduces Workplace Accidents

A Gallup study found that organizations with highly engaged employees saw 63% fewer workplace accidents. 

When workers are engaged, they’re more attentive, proactive, and committed to following safety protocols. They also report hazards more promptly, helping managers address risks before they escalate. 

This proves that fostering a positive, communicative work culture isn’t just good for morale—it directly impacts workplace safety.

Conclusion

The statistics shared above paint a clear picture: risk management in the workplace is not optional—it’s essential. 

From costly workplace accidents and supply chain disruptions to the rise of cyber threats and fraud, Canadian businesses face a wide range of risks that can impact both people and profits. 

The data shows that companies that take risk seriously—by testing incident response plans, adopting new technologies like AI, and engaging employees—can prevent major losses and recover faster when issues arise.

Effective risk management in the workplace is about being prepared, not reactive. It means investing in safety training, strengthening internal controls, planning for disruptions, and using data to guide decisions. 

As seen with Ontario’s increased fines and rising climate risks, the legal and operational stakes are higher than ever.

Now is the time for businesses to assess where they stand. Are your risk strategies up to date? Are your teams trained and engaged? Are your systems ready for the unexpected?

To build a safer and more resilient future, prioritize risk management today. Explore trusted resources, invest in expert guidance, and put strong, proactive systems in place. Your employees, your reputation, and your bottom line will all benefit in the long run.