Training & Development Lectures - HR, Learning, Evaluation & Career Development - Return on Investment (ROI) - Training & Development Lecture 7.4 (Full Version)

In this video, we explore how to calculate Return on Investment (ROI) for training programs, providing a comprehensive cost-benefit analysis. You’ll learn how ROI is determined by assigning monetary values to training outcomes and comparing them to the costs involved. Table of Contents: * ROI Formula: Understand the formula for calculating ROI, which involves identifying training outcomes, assigning monetary values, and comparing the benefits to the program costs. * Calculating ROI: Discover the steps to calculate ROI, from determining the value of changes in training outcomes to subtracting costs from benefits and multiplying by 100 to get a percentage. * Determining Benefits: Learn how key stakeholders, such as managers and trainers, estimate benefits by reviewing needs assessments, training objectives, and learning outcomes. * Determining Costs: Explore how costs are identified through accounting records and the resource requirements approach, providing data to evaluate program effectiveness and make informed decisions. 📖 Reference: Noe, R. A. (2020). Employee training and development (8th ed.). New York: McGraw-Hill Education. #TrainingROI #CostBenefitAnalysis #ReturnOnInvestment #TrainingEvaluation #TrainingOutcomes #ProfessorQ #SubscribeForMore