Though researchers and professionals have introduced interventions to improve health and safety outcomes for the construction industry, very few interventions have been developed considering the importance of the procurement stage. The procurement and tendering process plays a vital role in defining the roles and responsibilities of the stakeholders involved in the project. The significance of contractors’ or subcontractors’ procurement in construction projects is well-documented in previous research but a very small number of research exists in this area that shows how the procurement process can be modified to improve the health and safety outcomes of the construction industry. The government, industry professionals, and researchers have a growing interest in promoting health and safety through procurement, but the topic still needs to be addressed carefully to improve the health, safety, and wellbeing (HSW) of the construction industry. This study incorporates HSW factors in various stages of contractor procurement in the Australian construction industry. The research involves a literature review to identify the potential HSW factors that can be introduced at the procurement stages. By developing a theoretical HSW procurement model, this research argues that HSW practices should be considered at each stage of construction procurement rather than applying the act and regulations solely at the project delivery stage. The findings of this paper will be beneficial for clients and contractors of the Australian construction industry who want to improve their HSW practices to achieve a competitive advantage in the procurement process by aiming for better health and safety outcomes.