Determining the Value of Training

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.