What benefits can arise from effective risk identification?

Effective risk identification is crucial in establishing a safe working environment and can significantly lead to improved accident rates. By identifying potential hazards and risks, organizations can put in place appropriate control measures to mitigate these risks before they result in incidents. This proactive approach enables companies to prevent accidents from occurring, thereby ensuring a safer workplace for all employees.

Moreover, improved accident rates contribute to several other positive outcomes, including increased employee confidence and morale, reduced costs associated with workplace injuries, and maintaining a good organizational reputation. In contrast, the other options reflect negative outcomes that could arise from inadequate risk management, emphasizing why effective risk identification is essential for fostering a safe work environment.