What are the costs to training?
- Tangible costs with training: content development, learning management system, facilitators, trainers, training managers, and coordinators, the expense of sending employees to training, licenses, and software installation.
- Intangible costs without training: turnover, low employee morale, apathy, burnout, etc.
There are many benefits to training employees, but there are also many costs. Employers struggle to assess the benefits of training employees and monitor the expenses.
The solution: take time vetting new content ideas, new learning management systems, facilitators, trainers, and requests for professional development. Setting the right intention is the key to ensuring ROI.