My boss has asked me to justify the expenditure required to send me on trainer courses by asking me to quantify this by looking at the return on his investment. How on earth do I do this? I really need to go on this course!
All suggestions appreciated.
Jacquie MacIver
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I can’t access your email because I can’t join this site to share resources (doing so means I must provide credit card / purchase order details which the company has not allowed me to do). Just for further info, its a Train the Trainer course and NOT consultancy (although training and certification would probably mean that my boss would want to extend training into a saleable resource).
Jacqui you are registered
Jacqui,
you must be a registered member in order to post to the any answers section. Credit card details/invoice details are only required when purchasing from the site OR downloading doccuments from the Pay Per View section.
The reason you cannot see the email address of
sarah bird is because she did not include it in the bulk of the text.
Training and ROI
Hi,
Your boss means he wants to know how much money he will save (or make) by him investing money into your training.If your course is £800 and as a result you are able to produce materials and train other staff internally thus avoiding the need for external providers ROI(return on investment) is easily calculable.
He pays £800 to train you. He has 10 employees who would normally attend external training at £150 per day per head. They normally attend 10 days training per year each.They now are trained by you for five of those days.
10 employees x 5 days each at £150=£7500
His return on investment is £7500-£800(paid for your course)less your daily wages bill. So if you are paid £20000 deduct a further £76.92×5.
The final calculation is therefore £7500-£800-£76.92×5=£384.60=£6315.40. Dependant upon how your figures look the final total should be expressed as a percentage of interest gained on the initial £800 investment he made.
The £800 is deducted from the first set of courses only and then it is just your daily wages and other expenses that need to be taken into account.
This is the simplest form of ROI but there are other variables that can be used but as a start it works.
Training the trainer courses vary and altough you need training to be a trainer ensure that the course you have chosen covers all the points you want to develop in.
ROI being asked for is an indicator that training spent in the past for your boss has been poor. Make sure that your course enhances your talents and that you can deliver all promised as a result. Training courses of this nature need to come in modular format so you can build up your expertise. No trainer is made overnight (or even after a week’s course)!
The best of luck.
[email protected]
ROI
Jacqui – If you send me your e mail address I will send you an Excel Spreadsheet which would give you a return on your salary figure, ROS rather than ROI. This might be useful to your boss.
[email protected]