MARCOEM WEBINAR SERIES RETURN ON INVESTMENT FOR …

[Pages:39]MARCOEM WEBINAR SERIES RETURN ON INVESTMENT FOR HEALTH AND SAFETY PROGRAMS MAY 16, 2019

David Eherts PhD CIH

Vice President Global EHS

Ph: +1 862 261 7495

david.eherts@

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COURSE LEARNING OBJECTIVES

> Understand basic financial management concepts and tools. > Understand the Macro and Micro Business Case for Safety. > Learn how (and when) to present the benefits and costs of

health and safety investments. > Evaluate existing models for analyzing safety and health

investment strategies. > Understand how make a business case to justify health and

safety investments. > Introduce students to the Return on Health, Safety and

Environmental Management (ROHSEI) software.

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Peter Drucker:

"Economic performance is the first responsibility of business. (Without economic performance) a business cannot discharge any other responsibilities, cannot be a good employer, a good citizen, a good neighbor."

Finance is the language of business

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From Michael Muckian

"The Complete Idiot's Guide to Finance & Accounting"

It doesn't matter what your professional responsibilities are, your management

responsibilities contribute directly to your company's profitability.

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KEY INSIGHTS ASSE VALUE OF THE PROFESSION STUDY

Areas where leaders felt that the health and safety professionals performance fell below expectations:

Business And Strategy

? We don't always plan and react strategically

? We don't transform data/insights into practical solutions

? We don't develop methods that integrate safety performance into business productivity

? We don't align EHS project plans with overall business strategy

? We don't understand financial related terms and information

? We don't know how to evaluate proposed investments against their projected payoff

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SAFETY AND HEALTH DRIVERS

1970's ? OSHA Compliance 1980's ? Injury Prevention 1990's ? Cost Reduction 2000's ? Business Value 2010's ? The New View

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RETURN ON INVESTMENT (ROI)

Definition:

The amount of benefit received for a given amount of resource invested.

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THE QUALITATIVE VALUE OF SAFETY

Ability to teach New View Concepts to HR, Quality and OpEx

This document contains no technical data subject to EAR or ITAR.

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