Is purchasing an exoskeleton cost-effective for your business?

The Profitability of Exoskeletons: A Clear Financial Approach

When it comes to investing in solutions to optimize working conditions and reduce long-term costs, exoskeletons stand out as cutting-edge technology. But is purchasing an exoskeleton truly profitable for your business? Let’s explore the key elements to consider together.

Cost of an Exoskeleton per Hour of Work

Let’s take the example of a back exoskeleton, such as the Liftsuit, costing about $1950 and having a lifespan of 6 years. If the employee uses the exoskeleton for 40 hours per week, this represents a total of 12,480 hours over 6 years. Therefore, the hourly cost of the exoskeleton comes to:

$1950 / 12,480 hours = $0.16 per hour.

For less than 17 cents per hour, you offer your employees a solution that enhances their comfort, productivity, and safety.

Reduction of Injury Risks

Wearing an exoskeleton significantly decreases the risk of musculoskeletal injuries (MSIs), particularly in the back, which is one of the leading causes of work stoppages in Canada.

Average Cost of a Back Injury for Employers: a back injury can cost the employer between $25,000 and $75,000, depending on the severity and duration of the work stoppage (source: Institut national de santé publique du Québec).

Human Consequences: for the employee, a back injury can result in chronic pain, a reduced quality of life, and permanent functional limitations.

By equipping your employees with an exoskeleton, you reduce these risks, avoiding not only costs associated with compensation and training replacements but also the negative impacts on team morale and productivity.

A Winning Approach for the Business and Employees

Investing in exoskeletons, besides being financially accessible, creates a safer and more attractive work environment. Companies that adopt these technologies:

• Increase employee satisfaction and retention.

• Reduce costs associated with absenteeism and injuries.

• Enhance their image as an employer concerned about their teams' well-being.

Concrete Example of Return on Investment (ROI)

Let’s assume an employer equips 10 workers with the Liftsuit, at $1950 each, for a total cost of $19,500.

If these exoskeletons prevent just one back injury per year, the employer potentially saves between $25,000 and $75,000, not counting the indirect benefits related to increased productivity and reduced absences. Within less than a year, the investment can be fully recovered, demonstrating a tangible return on investment.

Conclusion

For a reduced usage cost ($0.16/hour in our example), purchasing an exoskeleton is a strategic investment for companies wishing to combine economic performance with social responsibility. Reduce the risk of injuries, improve quality of life at work, and save in the long run.

To learn more or to test our exoskeletons, visit our site Exoskeletons Canada.