hello everybody,
myself Megha Wadhwa. i am working with a Training consultancy where
we do training programs for our clients. for example, we are working
with this big client which is a telecom sector. we have trained all
the call center executives on a program where are main purpose was to
release internal creativity, energize and motivate employees and also
to create a common understanding of customer centricity and develop
initiatives and action plans. it is a crossb departmental and
functional workshops on customer centric beagviors and attitude.in
other words its a big OD initiative.
now my concern is that we don't have formalized measurement procdure
except the measurement on LEVEL 1 i.e the reactions. can you help me
that if at this stage when the programs have already been conducted.
i would like to do an ROI analysis for this initiative.for this i was
plaaning to identify some parameters where i can ask the 30% of the
participants what % of change have they felt after attending the
program for the parameters defined.
it will be very nice of you if you could guide me how to go about;
what kind of parameters to identify and is there any other way i can
do the ROI
Since i am very new in this field it will be very nice of you people
if you could guide me.
From India, Ghaziabad
myself Megha Wadhwa. i am working with a Training consultancy where
we do training programs for our clients. for example, we are working
with this big client which is a telecom sector. we have trained all
the call center executives on a program where are main purpose was to
release internal creativity, energize and motivate employees and also
to create a common understanding of customer centricity and develop
initiatives and action plans. it is a crossb departmental and
functional workshops on customer centric beagviors and attitude.in
other words its a big OD initiative.
now my concern is that we don't have formalized measurement procdure
except the measurement on LEVEL 1 i.e the reactions. can you help me
that if at this stage when the programs have already been conducted.
i would like to do an ROI analysis for this initiative.for this i was
plaaning to identify some parameters where i can ask the 30% of the
participants what % of change have they felt after attending the
program for the parameters defined.
it will be very nice of you if you could guide me how to go about;
what kind of parameters to identify and is there any other way i can
do the ROI
Since i am very new in this field it will be very nice of you people
if you could guide me.
From India, Ghaziabad
Hi Megha
In finance, the return on investment (ROI) or just return is a calculation used to determine whether a proposed investment is wise, and how well it will repay the investor. It is calculated as the ratio of the amount gained (taken as positive), or lost (taken as negative), relative to the basis.
With this same concept you need to calculate the ROI on training..
The process of calculating ROI
To calculate ROI you must first make estimates or obtain measurements of the costs and benefits associated with a training programme. As you will see, the calculation of ROI is then a relatively simple process. Let's start with the costs …
Forecasting and measuring costs
Forecasting and measuring benefits
Calculating return on investment
Return on investment tells you the percentage return you have made over a specified period as a result of investing in a training programme. On the assumption that benefits will continue to accrue some time after the training, then the period that you specify is critical to the ROI figure you will obtain. You may like to specify a period that fits in well with your organisation’s planning cycle – perhaps a year or two years. On the other hand, you may wish to calculate the period to correspond to the lifetime of the benefit, in which case you will need to know how long the average student stays in a position in which they can continue to apply the knowledge and skills being taught.
It is relatively simple to calculate return on investment:
% ROI = (benefits / costs) x 100
Payback period
Another way at looking at ROI, is to calculate how many months it will take before the benefits of the training match the costs and the training pays for itself. This is called the payback period:
payback period = costs / monthly benefits
Payback period is a powerful measure. If the figure is relatively low – perhaps only a few months – then management will be that much more encouraged to make the training investment. As a measure, it also has the advantage of not requiring an arbitrary benefit period to be specified.
From India, Ahmadabad
35In finance, the return on investment (ROI) or just return is a calculation used to determine whether a proposed investment is wise, and how well it will repay the investor. It is calculated as the ratio of the amount gained (taken as positive), or lost (taken as negative), relative to the basis.
With this same concept you need to calculate the ROI on training..
The process of calculating ROI
To calculate ROI you must first make estimates or obtain measurements of the costs and benefits associated with a training programme. As you will see, the calculation of ROI is then a relatively simple process. Let's start with the costs …
Forecasting and measuring costs
- Design and development costs
Promotional costs
Administration costs
Faculty costs
Materials
Facilities
Student costs
Evaluation costs
Forecasting and measuring benefits
- Labour savings
Productivity increases
Other cost savings
Other income generation
Calculating return on investment
Return on investment tells you the percentage return you have made over a specified period as a result of investing in a training programme. On the assumption that benefits will continue to accrue some time after the training, then the period that you specify is critical to the ROI figure you will obtain. You may like to specify a period that fits in well with your organisation’s planning cycle – perhaps a year or two years. On the other hand, you may wish to calculate the period to correspond to the lifetime of the benefit, in which case you will need to know how long the average student stays in a position in which they can continue to apply the knowledge and skills being taught.
It is relatively simple to calculate return on investment:
% ROI = (benefits / costs) x 100
Payback period
Another way at looking at ROI, is to calculate how many months it will take before the benefits of the training match the costs and the training pays for itself. This is called the payback period:
payback period = costs / monthly benefits
Payback period is a powerful measure. If the figure is relatively low – perhaps only a few months – then management will be that much more encouraged to make the training investment. As a measure, it also has the advantage of not requiring an arbitrary benefit period to be specified.
From India, Ahmadabad
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