Traditional approaches to monitoring road safety have primarily focused on measuring outcomes such as the number of fatalities and injuries. While effective in capturing overall trends, this macroscopic approach often overlooks the underlying causes of unsafe conditions. Recognizing these limitations, many countries now embrace a safe system-based approach, which emphasizes a holistic view of road safety, considering various elements and their interactions. In response to this shift, this study introduces a five-step framework designed to provide comprehensive coverage and tailored assistance in selecting and utilizing appropriate Road Safety Indicators (RSIs) for more effective performance monitoring. The framework integrates a novel RSIs taxonomy aligned with critical elements of the safe system. It also incorporates an MCDA-based approach to account for decision-makers' preferences when selecting suitable RSIs. A case study demonstrates the practical application of the proposed steps, including the identification, classification, selection, and development of descriptive sheets for each selected RSI, as well as the continuous updating of the RSIs set. The findings offered valuable insights into the commonly used indicators in international road safety reports, while also revealing the limitations of currents metrics and data in fully capturing critical elements and hierarchical level within the road safety management system.