Page 11: of Maritime Reporter Magazine (May 2023)

SMART (Speci? c, Measurable, Achiev- evance of training and assessment pro- evaluating and adjusting our training able, Relevant, and Time-bound) to fa- grams, it is important to conduct regular and assessment initiatives, organiza- cilitate easy tracking of progress and evaluations of our initiatives. This in- tions can ensure we are maximizing the evaluation of results. By setting these cludes gathering feedback from partici- ROI of our investments in workforce measurable objectives, we can better pants, monitoring changes in costs and development.

gauge the effectiveness of training and KPIs, and adapting the program as need- Thanks so much for reading and until assessment initiatives because we can ed based on the results. By consistently next time, sail safely!

look at their impacts in terms of speci? c goals.

One part of accomplishing the above will be to identify key performance in- dicators (KPIs). Each of these KPIs should be directly linked to the objec- tives of the initiative.

These may include metrics such as the number of accidents, incident rates, em- ployee retention, and productivity im- provements. Each of these have a cost.

By monitoring these KPIs before and af- ter the training, organizations can begin to assess the impact of the initiative on overall performance.

It is also important when considering the “R” part of ROI to remember that

Clear many returns will go beyond immedi- ate improvements in workforce compe- tency. These initiatives can lead to long- term bene? ts such as an improved level route of professionalism and workplace cul- ture. This leads to improved retention, recruitment, corporate reputation, and even regulatory compliance. Although ahead these longer-term bene? ts are more dif- ? cult to quantify and to relate to speci? c

Two-stroke solutions investments, their return is real and it is crucial to consider them alongside the for the future of shipping short-term bene? ts in order to obtain a complete picture of the value provided by the investment.

On the “I” side of the ROI calculation, it is important to evaluate both direct

Navigating new regulations, decarbonization, and complex and indirect costs. As examples, direct fuel economics is easy with us as a partner. Our two-stroke

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Clear route ahead – with MAN B&W two-stroke solutions.

And ? nally, it is important to note that www.man-es.com/marine/two-stroke

ROI is not a static quantity. To ensure the continued effectiveness and rel- www.marinelink.com 11

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