Each year, safety-related incidents cost organizations over $170 billion, according to the National Safety Council.
Despite the appearance of unpredictability, hazardous work behaviors are symptoms of systematic deficiencies in Operational Resilience, which reflect the collective mindset of individuals within the organization. To achieve peak reliability and performance, organizations must first embed the mechanisms and behaviors of operational resilience.
The hallmark of a resilient organization is engaging and effective leadership. Effective leaders directly contribute to an organization's financial performance through their influence on employee mindsets and behaviors. Research shows that nearly 50% of the variation in firm profitability is attributable to leadership. The financial impact of leadership is amplified for high-risk, complex, human dominated industries, where operational resilience is critical for the safe functioning of organizations. Indeed, organizations that leverage their human capital by enhancing leadership consistently outperform their competitors.
The economic value of organization interventions emerges from behavioral and mindset change at the employee level. Utility Analysis is an analytical procedure used to estimate the ROI of behavioral changes as a result of organizational interventions such as training, coaching and forums. Just as effective medical interventions are expected to improve a person's physical resilience and life expectancy, effective leadership interventions will improve the resilience and financial performance of your operation.
At Vetergy, our purpose is to help our clients optimize their operations and achieve industry leading performance. We accomplish this by integrating decades of leadership experience in high-risk occupations with cutting-edge behavioral science principles. Our evidence-based site study integrates field discovery with our psychometric benchmarking survey, the Operational Resilience Index (ORI). We leverage predictive analytics to provide a data-driven assessment of your organization’s health and key drivers of Operational Resilience. Together, we maximize your Return on Investment (ROI) by delivering boutique interventions within a framework for lasting change.
Ultimately, operational resilience is the result of employee mindsets and behaviors. By instituting behavioral change through leadership transformation forums, we help you realize the full potential of your human capital. Together, our multi-method approach to understanding and tracking progress gives us the capacity to translate organizational change to economic value.
In the digital age, businesses must leverage data and analytics to understand the needs of its people. The use of data analytics has permeated every core function of organizational life. Data-driven approaches allow organizations to identify strategic areas of deficiency that garner the greatest return on investment. At Vetergy we excel at introducing people analytics to the world of operational resilience in high-risk industries. In doing so, our goal is to make your organizations safer, more reliable, and more resilient than ever before.
Click HERE to learn more about how to measure and unlock the potential economic opportunity in your organization, contact Vetergy Group today.