Q & A: Proving the ROI of Safety Training
Question: “What are the ways that ROI can be determined for Training that we can show Mgmt that shows Training is needed?”
Answer: You’re in luck! We have an online ROI calculator for safety training.
There’s a lot of psychology involved with upsetting the status quo (people get threatened and fail to embrace change). You have to take your decision makers on a journey exploring the pain of the status quo.
Show them the money.
How much is training currently costing you in terms of lost productivity, wages & benefits? How much could you be saving be making a change? How much are you paying in workers compensation claims? How much could you save if you reduced your most common injury type? Do workers hate your training program? How bad is it? Are your training materials out of date? How bad are they? How far out of compliance are you today?
Along the way, build a coalition of people who share your opinion, and ask them to join you as stakeholders who support doing things a different way.
US Department of Labor: A good safety and health program can save $4 to $6 dollars for every $1 dollar invested.