A successful training program is the product of careful resource planning, budget allocation, data collection, needs analysis, and a slew of other efforts that need to be invested. All of these efforts are accumulated and implemented in order to observe a substantial rise in employee and organisational performance. That said, it is essential to study the extent to which the change in performance justifies the time and resources invested. This is when the measurement of the return on training investment comes into picture.
Return on investment or ROI could be defined as a measurable increase in skills and abilities of the staff, an increase in the company’s annual revenue, an improvement in brand image, or simply a rise in the number of trained employees. While this may sound simple, measuring the return on investment of a training program can be tricky to gauge because each company can resort to a different technique of measurement. However, some of the common approaches that can be adopted to measure training ROI are as follows:
In addition to measuring the return on training investment, companies also need to strive to create training programs that will lead to positive return on investment. To ensure that the return on investment is positive and the learnings are successfully applied to the job roles, the following measures need to be contemplated:
To sum it up, training can only be beneficial if positive returns on training investments are secured. In order to procure such positive returns, the trainers need to be well equipped, and effective. Hence, trainer training programs aimed at shaping successful trainers, supervisors, and managers into successful trainers will ultimately benefit the organisation. Since investment on training can often include a hefty sum, training the trainers is essential to justify this investment, and to also benefit the organisation in the long run.
Centre For Training & Professional Development (CTPD) - The Trading brand of TTA Training Private Limited, India is a ISO 9001:2015 Company
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