By Derek Good
If you can't measure it, you can't ‘cost' it
Training and HR initiatives are usually the first things to be ‘cut' during a recession.
Training is often seen as a cost rather than an investment, and because the effects of training may not be instant, there doesn't always seem to be a good and valid reason NOT to cut training. Yet sooner or later, if you stop training and upskilling your people, your staff's lack of skills will start to ‘cost' your organization or business in customer complaints; shoddy workmanship; bad attitudes and poor customer service.
Most organisations look for sustainable results and a fast payback on any training or HR investment, yet in a recent research project, 82% of companies were shown not to establish any actual measures on their training initiatives, so really they had no idea whether it was a good return on investment or not.
Seems crazy I know.
So Derek Good, MD of Rapid Results has designed a tool so you can actually measure your training results against your investment dollars. That way instead of ‘gut' feel that the training was or wasn't cost effective, now you can know for sure.
You can physically enter in your figures and costs, and the calculator will tell you whether you will get a return on that investment.
All for a few minutes work.
Then you will have valid data on whether to proceed with an HR/training initiative or not.
And for trainers and HR managers, if you believe that a particular initiative is of value, now you can actually prove it.
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By Derek Good