compared against the baseline data. Find out if any of the following cost factors improved: labor budget management, quality/rework, safety, equipment use and waste.
Also, determine each employee's effectiveness in executing his or her key job responsibilities, meeting skill requirements and achieving desired results. Then, place a monetary value on this.
8. Training Costs
Time away from work during the training process must be converted to dollars spent for all participants. The costs include instructor fees, costs for seminar materials and training aids and travel expenses.
9. Return on Investment
The ROI is calculated by comparing the results of cost control factors (dollars saved) against the training costs. Share these results with employees who were part of the training process.
10. Re-assessment
Once the process is completed, conduct a follow-up to determine if continuous training should occur in specific areas. Regardless of the results, ongoing reinforcement training must occur to emphasize the importance of continuous improvement.
Managers should provide training participants with an on-the-job application assignment that allows them to apply the learned skills.
Questions to Ask
Ask yourself these questions before embarking in the training and development process. And continue using these questions to be sure employees keep progressing:
- Do they work efficiently?
- Do they have the technical, management and leadership skills to grow in their jobs and achieve desired results?
- Can employees grow in their present position and take advantage of promotional opportunities?
- Do they work in a positive climate to help them reach peak performance?
Construction Business Owner , September 2011
