{"id":66582,"date":"2017-06-18T06:09:14","date_gmt":"2017-06-18T06:09:14","guid":{"rendered":"https:\/\/oceantimemarine.com\/?p=66582"},"modified":"2023-06-29T15:32:29","modified_gmt":"2023-06-29T05:32:29","slug":"the-roi-from-an-effective-safety-management-system","status":"publish","type":"post","link":"https:\/\/oceantimemarine.com\/en\/blog\/2017\/06\/18\/the-roi-from-an-effective-safety-management-system\/","title":{"rendered":"The ROI From An Effective Safety Management System"},"content":{"rendered":"<p>According to a poll of Maritime industry executives shows that for every $1 spent on direct costs related to an accident, there are another $3 to $5 worth of indirect costs\u2026putting the actual cost of an accident (with direct medical and compensation costs of $15,000) at somewhere between $45,000 and $75,000. Most executives polled said that for every $1 their company spent on workplace safety, they saved at least $3.<\/p>\n<p><!--more--><\/p>\n<p>In a recent poll of financial decision makers the participants perceived that on average, for every dollar spent improving working place approximately $4.41 would be returned. This type of return is significant on many levels.<\/p>\n<p>First and foremost is the reduction in accidents that an effective SMS provides. Second is the economic gain your company gains upon implementation of a Safety Management System. Additionally, as workplace safety improves, so does employee morale which leads to greater productivity and higher profits.<\/p>\n<p>Ocean Time Marine has developed a <a href=\"https:\/\/oceantimemarine.com\/en\/product\/safety-management-system-sms-template\/\">Safety Management System (SMS) Software \/ Template<\/a> to assist commercial vessel operators in writing a SMS.<\/p>\n<p>What type of SMS does your company have? Get started and use an effective template.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to a poll of Maritime industry executives shows that for every $1 spent on direct costs related to an accident, there are another $3 to $5 worth of indirect costs\u2026putting the actual cost of an accident (with direct medical and compensation costs of $15,000) at somewhere between $45,000 and $75,000. Most executives polled said&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[55],"tags":[],"post_series":[],"class_list":["post-66582","post","type-post","status-publish","format-standard","hentry","category-improving-safety","entry","no-media"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The ROI From An Effective Safety Management System - Ocean Time Marine<\/title>\n<meta name=\"description\" content=\"or every dollar spent improving working place approximately $4.41 would be returned. This type of return is significant on many levels. Read More.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/oceantimemarine.com\/en\/blog\/2017\/06\/18\/the-roi-from-an-effective-safety-management-system\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The ROI From An Effective Safety Management System - Ocean Time Marine\" \/>\n<meta property=\"og:description\" content=\"or every dollar spent improving working place approximately $4.41 would be returned. This type of return is significant on many levels. 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