One question that is commonly being asked to many safety professionals by financial planners in business is: Do safety management training programs improve a company’s bottom line?
The answer is “YES”. Although it is true, that the key benefits are a bit difficult to quantify.
Here are some statistics and examples, which will make you believe that safety training is an investment, not an expense.
- 6 million workers suffer non-fatal workplace injuries at an annual cost to U.S. businesses of more than $125 billion
- One such consequence that follow if safety training program is not implemented is: OSHA fines 20%
- American Society of Safety Engineers calculate that on average the ROI for safety programs is between $3 – $5 for every $1 spent
Above all, an organization that gives significant value to safety training investments, will reap benefits of building a favorable reputation and becoming the first choice of investors, suppliers, customers and employees.
Generally, we evaluate the effectiveness of training by using Kirkpatrick’s Hierarchy. For safety training, the main focus will be on Level 4: Results. These may be business results or ROI. If there is a positive indication at this level, that means your investments are paying off.
Now that we understood the key benefit of safety training, the question remains that is: How will you ensure that your employees are getting the appropriate training? For large organizations, specifically, it becomes a major problem to train their diverse employees working worldwide.
The best way to break this barrier is adopting online training. Most experts will agree that the future of safety training will increasingly involve Internet-based training.To increase the bottom-line business benefits, such as increased safety and productivity, it is important to leverage the proven benefits of online safety training program.
Here, are three “investment tips” that will help you to maximize the ROI.
Tip 1: Current Content: While designing an e-Learning course on safety training, it must be ensured, that the content is current. It must be current from regulatory perspective. An outdated content has little value to offer.
Tip 2: Instructionally Sound: With the intention of making your employees productive, the training program should be interactive and engaging. There are many interactive games, animations, puzzles, videos and e-Learning modules, which when incorporated in safety training programs will make your employees more eager to learn.
Tip 3: Courseware Support: As mentioned earlier, for a large organization, where there are employees working across the globe and under different time zones. The provider must implement the e-Learning courses effectively on LMS. Thus, it will help the employees to access the course from anywhere, anytime.
Hope, the proposed e-Learning solutions will help to increase your organization’s ROI. Also, the intangible benefits obtained from effective safety training will help your organization better to work with.