Determine a value for each unit based on single unit

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Unformatted text preview: ingle unit in step one. Easier for hard measures (e.g. units sold) than soft ones (e.g. cost of one employee absence). 12-06-12 7:50 PM eConcordia - Introduction to Training and Development - Lesso... Step 3 Step 4 http://www.econcordia.com/courses/training_development/_lib/... Calculate the change in performance. Eliminate all confounding variables so that the measure reflects a change in units that is attributable to the training. Obtain an annual amount. Industry standard: Total change in the performance data during one year. Step Determine the annual value. 5 The annual performance change multiplied by the unit value. Source: J. J. Phillips (1996). How much is training worth? Training & Development, 50(4), 20-24. Slide 8: Utility Analysis A method to forecast the net financial benefits that result from human resource programs such as training and development. Important factors to consider in calculating the utility of training program: 1. Effectiveness (effect size). 2. Standard deviatio...
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