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UMBC CHAPTER 7 STUDY GUIDE

Criterion 4 results or return on investment roi

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Unformatted text preview: ees that can be measured again after training to determine improvement. However, in addition to testing trainees, test employees who did not attend the training to estimate the differential effect of the training. • Criterion 3: Behavior • Transfer of Training Effective application of principles learned to what is required on the job. • Maximizing the Transfer of Training Feature identical elements Focus on general principles Establish a climate for transfer. Give employees transfer strategies • • Criterion 4: Results, or Return on Investment (ROI) Measuring the Utility of Training Programs Calculating the benefits derived from training: How much did quality improve because of the training program? How much has it contributed to profits? What reduction in turnover and wasted materials did the company get after training? What How much has productivity increased and by how much have costs been reduced? • Criterion 4: Results or Return on Investment (ROI) • Return on Investment Viewing training in terms of the extent to which it provides knowledge and skills that create a competitive advantage and a culture that is ready for continuous change. ROI = Results/Training Costs If the ROI ratio is >1, the benefits of the training exceed the cost of the program If the ROI ratio is <1, the costs of the training exceed the benefits. • Criterion 4: Results (cont’d) • Benchmarking The process of measuring one’s own services and practices against the recognized leaders in order to identify areas for improvement. Training activity: How much training is occurring? Training results: Do training and development achieve their goals? Training efficiency: Are resources utilized in the pursuit of this mission? • Criterion 4: Results (cont’d) • Deming’s Benchmarking Model Plan: conduct a self­audit to identify areas for benchmarking. Do: collect data about activities. Check: Analyze data. Act: Establish goals, implement changes, monitor progress, and red...
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