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After a training program has been selected, implemented, and conducted, its results should be measured.
Evaluations
Evaluations can be conducted immediately after the program and repeated a few weeks later to make sure the material has been retained. Evaluation tools can include:
Return on investment
An attempt also should be made to quantify the return on investment (ROI). While it is not easy to put an exact dollar figure on the ROI generated by training and development, companies report that it ultimately strengthens the bottom line.
A safety training initiative may help a company contain costs by encouraging employees to focus on an effort to improve safety procedures. Training also can help companies improve customer relationships, as knowledgeable employees assist customers efficiently and work as a team to address any client concerns.
In addition, technical training may allow a workforce to become proficient in a revised or streamlined process. Employees engaged in a talent development program may apply what is learned to a work issue or process improvement.
Education tied to best practices can bring in new ideas that can be applied in the workplace, and leadership development courses can help a company adjust to a changing business environment and meet new demands. Through training, employees and supervisors gain skills to become more versatile and increase productivity, which in turn yields a positive impact on profits.
Determining ROI
To analyze the return on investment:
It is also important to look at costs and benefits over a set period of time to understand where the breakeven point occurs.
Some training programs might reap long-term benefits that make up for large initial investments. In other cases, employers might decide that a smaller investment (such as a test program) can help justify expenses for a larger-scale undertaking.
After a training program has been selected, implemented, and conducted, its results should be measured.
Evaluations
Evaluations can be conducted immediately after the program and repeated a few weeks later to make sure the material has been retained. Evaluation tools can include:
Return on investment
An attempt also should be made to quantify the return on investment (ROI). While it is not easy to put an exact dollar figure on the ROI generated by training and development, companies report that it ultimately strengthens the bottom line.
A safety training initiative may help a company contain costs by encouraging employees to focus on an effort to improve safety procedures. Training also can help companies improve customer relationships, as knowledgeable employees assist customers efficiently and work as a team to address any client concerns.
In addition, technical training may allow a workforce to become proficient in a revised or streamlined process. Employees engaged in a talent development program may apply what is learned to a work issue or process improvement.
Education tied to best practices can bring in new ideas that can be applied in the workplace, and leadership development courses can help a company adjust to a changing business environment and meet new demands. Through training, employees and supervisors gain skills to become more versatile and increase productivity, which in turn yields a positive impact on profits.
Determining ROI
To analyze the return on investment:
It is also important to look at costs and benefits over a set period of time to understand where the breakeven point occurs.
Some training programs might reap long-term benefits that make up for large initial investments. In other cases, employers might decide that a smaller investment (such as a test program) can help justify expenses for a larger-scale undertaking.