Is purchasing an exoskeleton profitable 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 a cutting-edge technology. But is the purchase of an exoskeleton really profitable for your business? Let’s explore the key elements to consider.

Cost of an exoskeleton per hour of work

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

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

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

Reduction of injury risks

Wearing an exoskeleton significantly reduces the risk of musculoskeletal injuries (MSIs), especially to the back, which are one of the main causes of work stoppages in Canada.

Average cost of a back injury for the employer: a back injury can cost the employer between $25,000 and $75,000, depending on the severity and duration of the work stoppage (source: National Institute of Public Health of Quebec).

Human consequences: for the employee, a back injury can lead to chronic pain, reduced quality of life, and permanent functional limitations.

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

A winning approach for the business and employees

Investing in exoskeletons, in addition to being financially accessible, creates a safer and more attractive working 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 the well-being of their teams.

Concrete example of return on investment (ROI)

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

If these exoskeletons prevent even a single back injury per year, the employer could potentially save between $25,000 and $75,000, not including the indirect benefits related to increased productivity and reduced absenteeism. In less than a year, the investment can be fully amortized, demonstrating a tangible return on investment.

Conclusion

For a reduced usage cost ($0.16/h in our example), purchasing an exoskeleton is a strategic investment for companies looking to combine economic performance with social responsibility. Reduce injury risks, enhance quality of life at work, and save in the long term.

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