In the News: Measuring return on investment on training

As we all know, this question of measuring ROI on training is often asked but an incredibly tricky one that’s almost impossible to answer. I often pose the question “how capable do you think a workforce would be after an extended period of time with NO training?”. Most execs seem to agree that the answer is “not very!”.

We use a system we call SMART learning that uses a simple measurement to compare capability before and after training – this doesn’t provide a definitive $ return but shows clear positive change.

Here’s a fantastic article that offers an interesting view of the subject.

Have a great weekend!

Cheers, Sam

Return on Investment on Training Programs

I Want To Develop My People, But I Can’t Prove It’s Worth The Money’

By: Stephen J Meyer – Forbes Magazine – August 2014

Why would anybody spend a ton of money training employees if there’s no way to actually prove it works?

Many would answer, “I wouldn’t.” But that’s the wrong question.

Can you quantify the benefit of your elementary, middle or secondary school education? Probably not.

Would you say, “I’m not going to buy a six-figure education for my kid to go to college unless I can prove it’ll get her a six-figure job”? Not likely. Continue reading

In the News – Lack of apprenticeships could foil entitlement plan

A clear warning that there is much to be done if Australia is to meet its skills needs without having to rely heavily on overseas manpower…

By: John Ross – The Australian – 25/04/2012

The national training entitlement agreed to this month appears unlikely to solve shortages in some of the fastest-growing occupations, with private colleges still steering clear of expensive trades and technical training.

An analysis by the HES shows more than 1000 colleges are accredited to train people in key administrative occupations, and hundreds are equipped for training in personal care, hospitality and sales. But as few as two dozen train in the technical, trades and mining occupations the federal government says will explode over the next four years

Click here for the original article