The research has revealed that there have been significantly fewer people who have been killed, injured or suffered work-related ill health between April 2008 and March of this year.
Furthermore, the number of working days lost as a result of such incidents has declined, from 33.9 million in 2007-08 to 29.3 million.
After comparing the data with international figures, the HSE has claimed that this means the UK is one of the safest places to work in Europe.
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Judith Hackitt, chair of HSE, said: "In spite of the encouraging overall statistics today let’s not forget that they tell also us a story of individuals and families who have suffered. This underlines the real risks that people can face at work every day."
She added that this was the "real" agenda of health and safety.
The Challenge Fund, which was recently announced by the Department for Work and Pension, will make money available over the next two years to firms with which to launch projects to address issues such as stress and work-life balance.
