18 Jan 2023

72

The Cost-effectiveness of Training

Format: APA

Academic level: College

Paper type: Essay (Any Type)

Words: 336

Pages: 1

Downloads: 0

Training is an essential tool for equipping and improving employees with knowledge and skills. Employees’ training has become one of the contributing factors to improved job performance in the business world of competition. Perez (2014) states that the American Association for Talent and Development (ATD) conducted a study that revealed employers invest a lot in employee training and development. According to the ATD 2012 statistics, employers in the United States spend as high as $164.2 billion on training. Certainly, the figures must have increased further due to competition technological advancements. The business world is rapidly changing and according to Rothwell and Graber (2010), this change requires a different angle of thinking. Regular training is essential in equipping employees at different age brackets with new skills that match the current market demands. 

Virtually every business around the globe values the benefits of training. However, it would be prudent for business managers to ensure the resources invested in the training programs benefit the businesses in the long-run. With the rising average cost of employee training, businesses must adopt tools for evaluating the effectiveness of the training programs. Competition for the market share has become fierce forcing business managers to focus on employees’ skills. Apparently, what the employees can do is more important than just passing a mere test. Therefore, the training results should be reflected in the employees’ performance. 

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Training is vital for the progress of the business but do they have proper ways of measuring the effectiveness of the training? Measuring what the employee has learned throughout the training period is good for both the employee and the employer. One way of evaluating training effectiveness is through post-training tests. Certainly, post-training tests will provide the employer with a clear picture of the training outcome. Another way of measuring training effectiveness is through the employees’reaction. Clearly, employees’ reaction after training can determine the effectiveness of the training. The employer may use questionnaires to collect employee feedback. 

Generally, cost-effective training programs are vitally important for the success of the business. Training is an essential business tool in the modern world where every business is striving to stand out. However, businesses must adopt training programs that may contribute to achieving the goals. 

References 

Rothwell, W. J., & Graber, J. M. (2010).  Competency-based training basics . American Society for Training and Development. 

Perez, S. (2014). The ROI of talent development.  Retrieved (nd) from http://www. execdev. unc. edu

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StudyBounty. (2023, September 16). The Cost-effectiveness of Training.
https://studybounty.com/the-cost-effectiveness-of-training-essay

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