Your are in; Financial costs of Training BENEFITS TRAINING COMPLIANCE FINANCIAL HUMAN FLEET MANAGERS CHECKLIST

FINANCIAL COSTS OF TRAINING, OR NOT! All good training should pay for itself over time, by the reduction in waste, increase in performance and the added value we may see in our workforce There are two main costs associated with accidents, human and financial, some of these costs are easy to quantify, others less so. Listed below are some of the financial costs that may arise from a road traffic accident in one of your vehicles. Authorities have now stopped using the term "accident" believing that accidents don't just happen, they are a series of unplanned events, that could have been prevented by good management We shall look at the human costs a little later

When a road traffic accident occurs its easy to calculate the following The cost to the driver involved in dealing with any punishment, fines, court cases, possible cost of providing alternative transport if a driving licence is lost The costs of the damage to your vehicle, making good any repairs or replacements, finding a new vehicle The cost of the damage to the third party vehicle or property, and the paperwork trail that occurs in dealing with this matter. The cost of paying for solicitors, doctors and other witness's to attend court. The cost of paying sickness benefit for injuries possibly sustained to staff, or the hiring of temporary staff, or of paying overtime to others to cover for the absentee. The possible increased cost of insurance premiums, loss of no claims bonus, or the penalty of having an increased excess. The potential value of a lost contract, because an employee failed to arrive because of a road traffic collision The cost of possibe increased cost of insurance premiums, loss of no claims bonus, or the penalty of having an increased excess. The possibe increased cost of insurance premiums, loss of no claims bonus, or the penalty of having an increased excess. The fact that if an employee or their dependants take the employer to court following a serious or fatal accident, on charges of corporate manslaughter, fines can be virtually unlimited in size against the organisation . Notwithstanding the above, an employer or dependants could make claims personally against a Director or Senior Management for negligence, which could result in that person facing personal ruin or conviction if found to be in serious breach of care.

These financial costs are easy to quantify, and because they are only cash in real terms, they can be replaced quite easily through more care and effort,but losing or wasting money in a business, is not what its all about. money is the life-blood of a business.

Although loss of profit hurts, there is a much greater degree of suffering, have a look at the human costs after an accident on the next page

You can contact us at any time, for free advice on any transport training matter, or just call 0845 260 8558 AT A LOCAL CALL RATE FOR YOU!