Technological innovation and Industry 5.0 are gaining increasing attention among researchers as they offer companies a significant competitive advantage. On the other hand, introducing these technologies also brings new risks for workers. The current literature reveals a lack of studies that effectively integrate occupational safety and health (OSH) within this emerging technological context and analyse the impacts of their use. This study aims to explore how companies interact with macro-level interventions that promote technological innovation and to understand their impact on different dimensions of company performance, including aspects related to OSH. Based on the existing literature, a research framework is presented that identifies the stakeholders involved, the inputs facilitating their interaction, and the cascading effects and changes. A mixed-methods approach was adopted by employing an in-depth survey with 89 companies responding and composed of both open-ended questions, to capture rich, qualitative insights, and multiple-choice questions, to gather quantifiable data. Two change levels have been identified: general changes and specific changes related to OSH. The analysis also delved into the main drivers and barriers that lead companies to engage with technological improvements and the multiple changes these interventions generate across company dimensions.