The ROI of Safety

Tuesday, August 13, 2019

I hear it very often from students, attendees at safety shows, and during site needs assessments. It is usually something the safety representative says, but more and more, I hear it from the employees, and it goes something like this: “Our management wants us to be safe, but when it comes time to sign the check to pay for it, all of a sudden they have second thoughts.”   

In my experience, investment in safety is often cyclical; it ebbs and flows with the macroeconomy generally, and with a specific industry sector's performance in particular. Investment in safety tends to wane when profits are lean.   

shutterstock_1130250899

One of the old TV commercials put it clearly.  It was a motor oil commercial and the mechanic says, “You can pay me now for an oil change, or pay me later for an engine rebuild.” The broader message is: it's much cheaper to invest in preventative measures now than to pay for the failure later.   

 An article published in NSC’s Safety + Health magazine earlier this year points out some strategies that may help you as a safety professional demonstrate to your management the economic sense of investing in proactive safety.    

ROI-jan2019-infographic

 


RescueTalk (RocoRescue.com) has been created as a free resource for sharing insightful information, news, views and commentary for our students and others who are interested in technical rope rescue. Therefore, we make no representations as to accuracy, completeness, or suitability of any information and are not liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. All information is provided on an as-is basis. Users and readers are 100% responsible for their own actions in every situation. Information presented on this website in no way replaces proper training!