Cost vs. Benefit statistics for training effectiveness?

ROI
As your question addresses the heart of the business debate on training spend, we as business consultants always look at clear calculations on cost benefits when giving advice.

The only issue here as a variable ( length of string) is the application of the training to the person’s job role and how well the training matches the identified need. This process needs to be delivered by someone with the skills to do this or the training is meaningless.

Gap skill analysis, Training needs analaysis and a clear service agreement layiong out the needs of the employer and student on knowledge gained is fundamental to getting the best cost-v-benefit stats and real business improvement.

How many providers do we know who understand this and can adapt to the client needs accordingly? Very few in our experience.

For calculations on this look into the search on this site for return on investment. We recommend nothing less than a 2.2 month full recovery on cost of the training to improved performance and have found this time scale allows the student to apply the new knowledge after embedding the learning.

Lime One Ltd

2 Responses

TrainingZone says:

February 10, 2003 at 1:11 pm

ROI
As your question addresses the heart of the business debate on training spend, we as business consultants always look at clear calculations on cost benefits when giving advice.

The only issue here as a variable ( length of string) is the application of the training to the person’s job role and how well the training matches the identified need. This process needs to be delivered by someone with the skills to do this or the training is meaningless.

Gap skill analysis, Training needs analaysis and a clear service agreement layiong out the needs of the employer and student on knowledge gained is fundamental to getting the best cost-v-benefit stats and real business improvement.

How many providers do we know who understand this and can adapt to the client needs accordingly? Very few in our experience.

For calculations on this look into the search on this site for return on investment. We recommend nothing less than a 2.2 month full recovery on cost of the training to improved performance and have found this time scale allows the student to apply the new knowledge after embedding the learning.

Lime One Ltd
User deleted says:

February 11, 2003 at 9:27 am

Thanks for this
Robert.

Thanks for your response – I knew that answers would be difficult but your comment on 2.2 months for a return is a useful stimulant for further discussion at my end.

Cheers – Ian.