Assessing The Roi Of Training
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ASSESSING THE ROI OF TRAINING A Presentation by Group IV
Training is expensive. Without training it is more expensive Nehru
SYNOPSIS Introduction Measuring the success of training Forecasting and measuring cost Forecasting and measuring benefits Calculating return on investment Making ROI work
MEASURING THE SUCCESS OF TRAINING Why evaluate training ? To validate training as a business tool To justify the costs incurred in training To help improve the design of training To help in selecting training methods
INTRODUCTION ROI ( Return on Investment) is a measure of the monetary benefits obtained by an organisation over a specified time period in return for a given investment in a training programme
CRITERIA FOR MEASURING TRAINING SUCCESS Numbers Direct cost Indirect cost Efficiency Performance to schedule Income received
CRITERIA FOR MEASURING TRAINING SUCCESS The extent to which trainees mix Reactions Learning Behavior change Performance change
FORECASTING AND MEASURING COSTS Design and development costs Promotional costs Administrational costs Faculty costs Materials Facilities Students Evaluation costs
FORECASTING AND MEASURING BENEFITS Labor savings Reduced duplication of work Less time spent for corrections Faster access to information
Productivity increases Improved methodologies, reduced efforts Faster work due to higher skill levels Higher motivational levels
FORECASTING AND MEASURING BENEFITS Other cost savings – Reduced breakdowns and maintenance costs Reduction in staff turn over resulting in to, lower recruitment and training costs Reduction in bad debts
Other income generationHigher success rate leading to increased sales Sales referrals made by non sales staff New product ideas leading to successful product launches
CALCULATION OF ROI % ROI = (Benefits /Costs ) X 100 ROI tells the % return made over a specified period as a result of investing in a training programme.
Pay back period = Costs/Monthly benefits Another way of looking at ROI is to assess the period required to accrue benefits of training vis a vis investments in training
TRAINING PARADOX Train people to the point where you may lose them, and then you won’t lose them.
THANK YOU
Training is expensive. Without training it is more expensive Nehru
SYNOPSIS Introduction Measuring the success of training Forecasting and measuring cost Forecasting and measuring benefits Calculating return on investment Making ROI work
MEASURING THE SUCCESS OF TRAINING Why evaluate training ? To validate training as a business tool To justify the costs incurred in training To help improve the design of training To help in selecting training methods
INTRODUCTION ROI ( Return on Investment) is a measure of the monetary benefits obtained by an organisation over a specified time period in return for a given investment in a training programme
CRITERIA FOR MEASURING TRAINING SUCCESS Numbers Direct cost Indirect cost Efficiency Performance to schedule Income received
CRITERIA FOR MEASURING TRAINING SUCCESS The extent to which trainees mix Reactions Learning Behavior change Performance change
FORECASTING AND MEASURING COSTS Design and development costs Promotional costs Administrational costs Faculty costs Materials Facilities Students Evaluation costs
FORECASTING AND MEASURING BENEFITS Labor savings Reduced duplication of work Less time spent for corrections Faster access to information
Productivity increases Improved methodologies, reduced efforts Faster work due to higher skill levels Higher motivational levels
FORECASTING AND MEASURING BENEFITS Other cost savings – Reduced breakdowns and maintenance costs Reduction in staff turn over resulting in to, lower recruitment and training costs Reduction in bad debts
Other income generationHigher success rate leading to increased sales Sales referrals made by non sales staff New product ideas leading to successful product launches
CALCULATION OF ROI % ROI = (Benefits /Costs ) X 100 ROI tells the % return made over a specified period as a result of investing in a training programme.
Pay back period = Costs/Monthly benefits Another way of looking at ROI is to assess the period required to accrue benefits of training vis a vis investments in training
TRAINING PARADOX Train people to the point where you may lose them, and then you won’t lose them.
THANK YOU
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