Calculate The Cost And Benefit Of Training

Www.workforce.com published an article to guide enterprises to calculate the cost and benefits of training.

First, calculate the cost of training. These expenditures include: teacher fees, training design, teaching materials, video tapes and exercise books, rental of equipment and equipment, staff departure time (for training), video conferencing, special computer equipment, administrative affairs (such as student registration), and other related expenses.

Second, determine possible gains. These benefits include: fewer mistakes, lower customer churn rate, less equipment downtime, more revenue, lower employee turnover, lower recruitment costs, higher morale and other related benefits.

Thirdly, calculate the possible benefits.

To calculate the possible benefits, you need to do the following things first.

1, determine the current performance;

2, convert current performance into cash;

3, confirm the changes that training will bring.

4, calculate the benefits that these changes will bring.

5, determine the time needed to achieve these benefits;

6. Confirm the number of employees participating in the training.

7, confirm the benefits of every employee participating in the training.

Finally, compare costs and benefits. The total cost can be obtained by multiplying the cost of training on a single trainee by the total number of trainees. The total income can be obtained by multiplying the income that a single trainee may bring to the total number of trainees, and comparing these two figures.