The calculator, provided by the Addison, Illinois-based OneOnOne Computer Training, includes such variables as:
- number of people trained
- average learning time
- hourly pay
- costs of training
- estimates of productivity improvement.
According to a OneOnOne announcement, the calculator can produce projections of profit, return on investment, and payback time.
While trying to determine the projected value of a block of training, HR executives also need to consider the consequences of not providing the additional education, the company said. Specifically, OneOnOne officials said, companies should factor in:
- employee hours wasted on trial and error learning
- time stolen from co-workers for help on routine tasks
- excessive vendor support calls with the meter running
- opportunity cost of not exploiting work-saving features
- competitive disadvantage when less efficient than others.