Evaluating the Components Beneficial to Successful Training
The first option would be hiring the best facilitator. This is because the facilitator plays a major role in developing training design, effective application of technology and utilization of other resources to ensure successful training. Facilitators carry the greatest weight in training such that with the right facilitators who can employ different training techniques and designs based on the learners’ needs, it is easy to engage learners and to enhance their level of understanding, participation, and skills building in the training.
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The second in the rank is presentation technology that includes projectors and smart-boards. Presentation technology is an important training resource that eases illustration and enhances learners’ ability to follow a lecture. It can act as a good complement of the best facilitator and hence it is ranked second. On the third rank is the environment. Having the right learning environment motivates learners to participate in learning and to enjoy learning. This can also act as a complement for the best facilitator. The fourth in the rank is time. After ensuring there is a training facilitator, right training resources and a good training environment, then the HR needs to devise time for workers to attend the training. This can be enhanced by organizing training to happen during weekends or paying casual workers to release the permanent workers to attend the training.
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The fifth option would be perks that include incentives given to learners to encourage a high number of attendants in the training session. Perks should also be given to reduce time waste looking for lunch and snacks at different times and places. The last option would be mentoring that involves follow-up hands-on sessions on a one-to-one basis. Mentoring can only happen after one has the basic knowledge. It is a follow-up to the training. Thus learners must gather enough knowledge and information in the training, for mentorship to use this knowledge to build learners skills. Thus options that contribute to facilitating effective learning should precede mentorship.
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Evaluating the Return on Investment of Training Programs
Return on investment is computed by subtracting training costs from training monetary benefits then dividing the result with the training cost. Monetary benefits of training can be computed by determining how training influences operation efficiency. In this case, the monetary benefit is the saved cost. It can also be measured by determining improved in individual performance may be in the quality of services and quality of goods and how this improves sales. Improved performance can be measured based on the level of revenue increase. This can also be measured on results where the general outcome of an operation which includes reduced or minimized errors can be measured based on the cost saved from errors.
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In this particular case, the training cost will include the cost of hiring the best facilitator, cost of purchasing presentation technology, cost of paying temporal workers, cost of hiring off-site facility, cost of incentives given during training and cost of investing in the mentorship program. All these costs should be added together and subtracted from the anticipated benefits of a successful training session. These benefits include saved cost due to an increase in operation efficiency, saved cost due to the elimination of errors, the extra amount earned from increased sales due to quality improvement. This should be divided into the total training cost.
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To measure the ROI of hiring the best facilitator, then the training cost will be the cost of the facilitator. The earned benefits can vary from skills enhancement which improves on individual operational efficiency and output quality. The efficiency saves on the cost while quality increases on the level of sales. The saved cost plus the extra sales can be termed as the benefits of hiring the best facilitator. The ROI, in this case, would be the total monetary benefits of hiring the best facilitator, subtract the cost of hiring the facilitator, and then divided the result with the training cost. The ROI, in this case, is likely to be high (Noe, 2013).
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