This year’s G2E Keynote Address by Steve Wynn…

Channeling Jack Nicholson, Ronald Reagan with a dash of Clint Eastwood, Steve Wynn proved why he is truly a legend in the gaming industry.

A large crowd gathered for the keynote address at the gambling industry’s 2014 G2E Global Gaming Expo as he spoke of the industries challenges and  the importance of creating unique experience to keep visitors coming back.   He reiterated what we already knew to be the case that’s a non-gaming amenities have always been more important in keeping the industry viable than what he termed just slot boxes. “It’s about things that give people a chance to live big,” Wynn said.  That’s why they come to Las Vegas, he said. “If you give it to ’em, you’re going to be OK.”

Recognizing  that the casino competition continues to grow as more states have legalized casino gambling, an emphasis on non-gambling revenue sources including restaurants, shopping and entertainment is what will win the day for the industry.

He had tremendous praise for the folks in Massachusetts who he called brilliant minds in the application process that afforded him what he considers to be an amazing opportunity in Boston. His 1.6 billion dollar projects international players and provides non-gaming amenities the likes of which have not been seen in the region. He also took a strong position opposed to the expansion of internet gaming as does Sheldon Adleson, another pioneer in Las Vegas and international gaming locals.

In economic terms, the multiplier effect refers to the proportional increase or decrease in final income that results from an injection or withdrawal of capital. In terms of Safety Reward Programs, the multiplier effect might refer to the ROI² (Return on Incentive Investment). A properly structured program significantly impacts overall employee engagement and safety culture, where employees are attuned to safety-related issues, inspired to display “Above & Beyond” safe behaviors, willing to be safety ambassadors, and encouraged to promote learning and support continuous improvement. Such best-in-class programs are designed to promote group objectives and reward individual behavior, engaging, motivating, and rewarding the people behind your success.
 

Fortunately, there are thousands of companies in high-risk industries that have excellent safety programming, training, and coaching in place. Many include safety in their list of core values and have invested heavily in EHS (Environment, Health, and Safety) technology, training, telematics, and personnel. However, too many miss the opportunity to incentivize and recognize individual safety contributions, behaviors, and performance.
 

Programs featuring tangible and experiential awards as the reward currency can have a multiplying effect that pays dividends. Benefits include a more highly engaged workforce, fewer accidents and incidents, reduced claims and losses, lower turnover and absenteeism, better communication, increased productivity, visibility to leading and lagging indicators, incremental coaching and training opportunities, and improved profitability.
 

So, what’s the rub? Are engagement programs focused on employee safety, health, and wellness expensive to implement? Do they only make sense for companies with thousands of safety-sensitive workers? The answer to both questions is no. Properly structured programs can be cost-effective and right-sized for companies with as few as 100 safety-sensitive workers up to those with 10,000 or more. The ROI² of these programs can be expressed as a ratio (in this case, 4:1), with quantitative results showing a savings of $4.00 for every $1.00 invested and qualitative results revealing higher employee morale, which serves as a catalyst for productivity. Safety Reward Programs help to mitigate risk, elevate employee engagement, and improve overall safety culture. They also present an excellent opportunity for companies to simply say thank you to their employees for being safe, committed, and engaged.
 

People have an inherent need to know that their efforts do not go unnoticed. Safety Reward Programs provide the stimulus and energy that encourage employees to perform at their best and achieve new heights.

Gary Galonek

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