I think I understand your point now.
Might I suggest that the criteria for justifying any training, or for that matter any other activity, will be set by the party that is paying for it. Directly this is often the senior management team or the head of department that holds the budget that is paying for the training, or that is sending people on the training.
Indirectly the criteria will be set by the customer.
So, there are times when it can be argued it is all about finance and ROI.
I agree that the reality is it will be other tings too, such as delivery method, training objectives, how it fits in to the strategic picture, what the customers or competition are doing, and so on.
Have a good weekend!
Regards
Martin
From United Kingdom,
13Might I suggest that the criteria for justifying any training, or for that matter any other activity, will be set by the party that is paying for it. Directly this is often the senior management team or the head of department that holds the budget that is paying for the training, or that is sending people on the training.
Indirectly the criteria will be set by the customer.
So, there are times when it can be argued it is all about finance and ROI.
I agree that the reality is it will be other tings too, such as delivery method, training objectives, how it fits in to the strategic picture, what the customers or competition are doing, and so on.
Have a good weekend!
Regards
Martin
From United Kingdom,
This will vary from situation to situation.
first you have to calculate the current value of the employee (it need not be his CTC package) it also includes that the current assignments that he is handling. By giving education reimbursement if you are assigning him the critical assignments that is the value in monetory terms
here is the example.
A HR Executive who is in Generalist function applied for Education support scheme and gone for Diploma in training and Development. Which cost of you appox 20000(per say). After attaining that diploma, his profile can be enriched to Training function, some of the trainings can be handed over to him. (you may get ROI in three trainings some times)
But is is also depends on the assignment to assignment. You need to figure out the assignment value also.
regards
Srinivasu
From India, Hyderabad
first you have to calculate the current value of the employee (it need not be his CTC package) it also includes that the current assignments that he is handling. By giving education reimbursement if you are assigning him the critical assignments that is the value in monetory terms
here is the example.
A HR Executive who is in Generalist function applied for Education support scheme and gone for Diploma in training and Development. Which cost of you appox 20000(per say). After attaining that diploma, his profile can be enriched to Training function, some of the trainings can be handed over to him. (you may get ROI in three trainings some times)
But is is also depends on the assignment to assignment. You need to figure out the assignment value also.
regards
Srinivasu
From India, Hyderabad
It will ofcourse vary from situation to situation and organisation to organisation. In actual situation in atleast some if not many of the organisations, ROI will be calculated in money terms with certain amount of presumptions.
If looked at from positive prespective, majority of the training programs add value to the individual and the organisation. Now this is what could be primarilt looked at: Is it going to add any tangible / intangible value to the person and thereby the organisation. If so can it be quantified? If it satisfies the parameters the organisation has set for itself, then the training should go ahead
From India, Madras
If looked at from positive prespective, majority of the training programs add value to the individual and the organisation. Now this is what could be primarilt looked at: Is it going to add any tangible / intangible value to the person and thereby the organisation. If so can it be quantified? If it satisfies the parameters the organisation has set for itself, then the training should go ahead
From India, Madras
This topic is one of the toughest in training and education. How do you justify your training or education costs?
Please refer to Jack Philips papers when he show how the calculation to be done in measuring the impact of training / education.
You need to have before and after figures to show the impact as a result of training or education.
The positive gaps must be further analysed to isolate other variables apart from training these variable are volume inputs and trends.
The true performance outcome are then compared against your initial investment to come out with the ROI.
Arriffin, Kuala Lumpur
Please refer to Jack Philips papers when he show how the calculation to be done in measuring the impact of training / education.
You need to have before and after figures to show the impact as a result of training or education.
The positive gaps must be further analysed to isolate other variables apart from training these variable are volume inputs and trends.
The true performance outcome are then compared against your initial investment to come out with the ROI.
Arriffin, Kuala Lumpur
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ROI Training.zip
Training ROI Calculator.xls