The purpose of this working paper, prepared by the Topic Centre on Research - Work and Health of the European Agency for Safety and Health at Work, is to look at the link between a good working environment and productivity. A better understanding of positive effects of a good working environment would support the implementation of effective health and safety policy at company level. It would complement the set of rules and regulations with a significant parameter that is directly linked to the intrinsic motivation of a company. This working paper focuses on the level of the individual company. The consequences of occupational safety and health hazards will encompass individual workers/victims as well as their families and social networks. Society as a whole has to deal with these negative outcomes of the production process. The information was collected in the form of literature, on the one hand, and case studies, on the other hand. This working paper demonstrates that health and safety measures have a positive impact not only on safety and health performance but also on company productivity. However, identifying and quantifying these effects is not always straightforward.