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Cut training costs by gauging the ROI

by on
in Leaders & Managers,People Management

Issue: Prove that dollars spent on training employees represent money well spent.

Risk: Going out on a limb without convincing proof.

Action: Use free online tools to help you measure your training ROI.

You firmly believe that employee training improves the organization's bottom line. But how can you prove that to your boss? Use free online calculators to help you figure your training ROI. Here are four of the best: (Some require you to register first.)

 

  • The Human Capital ROI Worksheet (www.imperialcorp.com/roi.html) estimates financial returns before and after training.

     

     

     

  • The ROI calculator at www.mediapro. com compares training costs by factors such as time, facility costs and number of students. Figure out payback and break-even points.

     

     

     

  • The ROI calculator at www.allencomm. com provides a basic starting point to assess the ROI from online learning.

     

     

     

  • A site created by the Conference Board offers free measurement tools and advice to improve employee skills. Go to www.workplacebasicskills.com/begin.htm and click on "Free Tools."

 

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