(This article was published in The Straits Times on 3 Feb 2016 at page C44)
Some people think that training and development are a luxury for you cannot really measure its tangible benefits. Yet others think that there must at least be a 200% payoff (benefits over training cost) for any training program to be considered beneficial. To us, there are 7 tangible benefits that you can touch and feel IMMEDIATELY after the training:
Some people think that training and development are a luxury for you cannot really measure its tangible benefits. Yet others think that there must at least be a 200% payoff (benefits over training cost) for any training program to be considered beneficial. To us, there are 7 tangible benefits that you can touch and feel IMMEDIATELY after the training:
1.
Ask
the participants to do a written assessment of the training in terms of 3 areas:
how does it improve their work, make their work easier or given them new ideas.
You can also ask them to do a 30-day
Action Plan on the action that they will take within 30 days of
the training
2.
Voluntary
self-reporting by the participants. If your participants can report to you without being asked, you
can be sure that they enjoyed the training and find it useful
3.
Measure the improvements in the work This is very easy to be done for hard
skills training (like how to operate a machine), but even for soft skills, you
too can measure the improvements if you observe enough
4.
Measure the reduction in negativeness at work: errors, grievances, delays, lateness, poor
communication and negative attitude. Unless you're far away from the
employees, all you need to do is to open your eyes and ears and you'll be able
to observe the reduction in negativeness in just an hour
5.
Look
for improvement to Motivation, Morale and Enthusiasm in the office. For example, do people
now walk faster than before when they come to work? After training,
employees should be more open and not afraid of new ideas and you can easily
test them in your weekly meeting with them
6.
Identify specific areas that the training are
supposed to have addressed. Like sales training would have equipped your people with tactics
to over customers' objections while management training will teach them how to
do coaching
7.
Compute
the real dollars and cents that your training has delivered. Like higher productivity. If your
employee earns $3,000 a month, a mere 2% increase in productivity will
translate into a savings of $60 a month. If your employee can maintain
such increase in productivity for 3 months, your company will make $180.
Since the Productivity
and Innovation Scheme (PIC) pays 60% of the course fees, assuming a course fee
of $200, your net cost is $80. Thus the profit to your company is easily
$180 less $80 = $100. Some training providers give
profit guarantee, meaning that if you don't see savings that is equal to your
net training cost, they will refund your training fee. For our list of courses and their details, visit www.asiatrainers.com
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