The elephant in the room

Investing in crew is more vital now than ever before. We’ve all seen the consequences of insufficient competency in the wider world, with the likes of the Grenfell Tower fire and the findings in the subsequent report being a tragic example of what happens when corners are cut. While some may argue that the stakes may differ in yachting, we’ve just seen that the risks are all too real with the Bayesian tragedy.

Now, my job isn’t to speculate and, considering the controversial circumstances of the disaster and the conspiracy-theory fall-out that has ensued, it’s not the example I’m going to use. It does, however, follow a spate of incidents I’ve covered in the past few months that seemed utterly avoidable if the correct procedures were followed and crew competency was higher. This isn’t a slight on them either; the pressures and workload they are under are well documented. I’m merely addressing the elephant in the room.

The reality is that yachting has become more complex. Larger vessels, increasingly sophisticated technology and stricter regulations require crew who are more skilled than ever before. The lack of investment in crew training not only jeopardises safety, but also has far-reaching consequences, affecting everything from the wider perception of yachting, insurance premiums and credit ratings to the overall well-being and happiness of the captain and crew. An industry is only as good as the people who operate it, and this is where owners must step up.

I understand it’s a difficult conversation to have. Private owners often expect their crew to come ready prepped and primed for any and all situations. They aren’t cheap, after all. Commercial charter owners have similar expectations, and the loss of a million or so euros from charter revenue might seem like too high a price to pay but, in truth, money isn’t everything, and yachting shouldn’t be purely driven by financial gains or mitigating losses.

From a financial perspective, failing to invest in enhanced safety systems and training will begin to garner significant implications. Insurers are already tightening their policies, particularly in the wake of high-profile incidents that could have been avoided with better-trained staff.

It’s not just about keeping insurers happy either. Investing in training also fosters a positive working environment, which makes crew more likely to stay. In an industry that already suffers from a shortage of highly qualified crew, providing opportunities for skill development is a win-win. It creates loyalty, improves morale and encourages a higher standard of service. In the end, investing in crew isn’t just about safety or regulatory compliance, it’s about building an environment where the crew feel valued, skilled and motivated.

From a financial perspective, failing to invest in enhanced safety systems and training will begin to garner significant implications. Insurers are already tightening their policies, particularly in the wake of high-profile incidents that could have been avoided with better-trained staff.

The cost of not providing adequate training will be felt in rising premiums and potentially denied claims. Moreover, these recent incidents are likely to cause a gold rush for the latest on-board safety systems and will have sizeable implications on the supply chain. And let’s not forget the impact on credit lenders who may see yachts as higher risk, making it more difficult to secure favourable financing in the future.

The industry, now more than ever, depends on owners who are willing to invest in its backbone. Owners must embrace this responsibility, both for their own benefit and the future of yachting itself, and those who view crew development and safety equipment as a loss of revenue aren’t seeing the bigger picture. The immediate costs of sending crew for training pale in comparison to the long-term benefits of having a competent, well-prepared team.

Safety improves, operations run more smoothly and the yacht maintains its value. After all, a well-trained crew is the most critical component in ensuring a yacht functions as it should. The inconvenient truth is that cutting corners on crew training might save money in the short term but it will undoubtedly cost more in the long run. And any loss of life is too big a price to pay.

This article first appeared in The Superyacht Report – Owners Focus. With our open-source policy, it is available to all for a limited period by following this link, so read and download the latest issue and any of the previous issues in our library. Look out for the New Build issue coming in February!

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