The math needed to determine the financial return on investment (ROI) for safety interventions is easy (ASW, 10/12, p. 16), but technical expertise is required to calculate the associated benefits and investments.
The key performance indicators discussed by safety executives may differ from those discussed by the corporate finance department. One group may count unstabilized approaches, go-arounds and employee injuries. The other group looks at quarterly financial performance. Safety and profitability are the mutually inclusive, number one priority for most industries, especially transportation.
If you think that safety and finance are not related, then consider how quickly customers flee an airline or a company after a catastrophic event. For example, the 2010 oil spill in the Gulf of Mexico had an extreme impact, not only from clean-up costs but also from the costs associated with public percepti…
