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Well-run employee training programs are an investment. Here’s how to understand them. Employee training can be a difficult investment for many organizations to evaluate. One the one hand, there are […]
“The case of the wrinkly labels” - A KC Boxbottom Story by John Henry Jun 1, 2020
Reading time: 3m 30s. When conducting training, it’s important to know how much it is going to cost you and most organisations will have this information readily available. However, when carrying out an evaluation it’s important to consider all training costs, including indirect, for example, participants’ time. This will ensure you have an accurate and credible view of the potential ...
Training comes at a cost and therefore any organisation would be interested in knowing the return on investment (ROI). Organisations use different methods to assess the benefits of training in terms of numbers i.e. the profits. Some of the frequently used methods are ROI and Utility analysis.
This problem however relies upon the assessment of benefits from outside, sometimes which requires that non financial benefits may be converted into financial benefits. This requires precision and the sources have to be credible.
Training comes at a cost and therefore any organisation would be interested in knowing the return on investment (ROI). Organisations use different methods to assess the benefits of training in terms of numbers i.e. the profits. Some of the frequently used methods are ROI and Utility analysis.
This problem however relies upon the assessment of benefits from outside, sometimes which requires that non financial benefits may be converted into financial benefits. This requires precision and the sources have to be credible.