Better safety practices can improve company profits by 5 to 10%: DuPont Sustainable Solutions

DuPont Sustainable Solutions has assessed that ensuring better safety practises can improve the profits of a company by up to 10 per cent.

“For each dollar of direct costs (incurred after an accident), there are between $8 to $36 of indirect costs associated. So the consequences correlated to the indirect costs are really material. So there is a huge opportunity to save costs and there is a productivity opportunity,” Davide Vassallo, Global Managing Director at DuPont Sustainable Solutions (DSS), told BusinessLine .

“This is because reducing the incidents has a direct correlation between the number of incidents and the productivity of your plants. We estimate that there is an average 5 to 10 per cent of productivity gains that can be unlocked by working on safety and not necessarily on operational excellence,” he said.

Elaborating on the same, Ravindra Gurjar – India Business Director at DSS said, “On an average, when we work with clients in the space of safety, over a period of two to three years, you can see a reduction of almost 60 to 70 per cent in the number of incidents, this translates to a 5 to 10 per cent improvement in profits.”

DSS is a global operations management consulting business specialising in transforming workplaces and work cultures to deliver sustained improvements in safety, productivity and capability. It partners companies to help manage risk and achieve operational excellence by building organisational practices. It has been present in India for the last 16 years and has been associated with leading corporates such as Tatas, Indian Oil, Reliance Industries, Aditya Birla Group and Vedanta, a company statement said.

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