Do you measure the economic value of EHS risk reduction or auditing programs?

Elm recently sponsored a poll on LinkedIn.com on the status of measuring improvements in EHS risk (or “HSE”, “environmental”, “environmental, health and safety” – whichever term is preferred).

This survey demonstrates the variety of views on the importance of and methods for risk quantification or risk measurements for environmental, health and safety matters.  The results indicate that only 20% of the respondents are using detailed financial analytics to measure and track the value created from EHS risk management.

–       202 responses were logged in less than 24 hours (the poll was set up for  a maximum of 200 responses).

  • 37% from very large companies;
  • 14% from large companies;
  • 10% from medium companies; and
  • 39% from small companies.
  • 27% of the respondents represented the Management/Senior Management/Owner functions in their organizations

–       29% currently measure EHS risk reductions through some form of financial metric, but 10% indicated no rigorous metrics are used.

–       12% felt that no measurement is needed because the value of improving EHS exposures is inherent.

–       13% are looking for ways to develop financial metrics.

–       The remaining 43% stated that such measures are not a priority at this time.

LinkedIn members can view the poll at  http://polls.linkedin.com/poll-results/44274/mulee

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