Measuring Training ROI
ExploreHR.org has an excellent presentation on ROI in Training. It talks about:
- Designing Training
- Evaluating Training
- Evaluating Results
- The Difficulty of Evaluating Results
A couple of additional points that I think are not mentioned is the time value of money--the presentation assumes that the results are instant. Often that's not true. How do you discount for results years in the future? Also, the presentation doesn't talk about comparing the return from training to the return from doing something else (outsourcing for example). When I put on my manager hat--the budget is always limited. I will try to invest in items that provide the best return, not just a good enough return.