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Return on Investment in Training
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Author(s): Tad Waddington (Accenture, USA)
Copyright: 2009
Pages: 6
Source title:
Encyclopedia of Distance Learning, Second Edition
Source Author(s)/Editor(s): Patricia L. Rogers (Bemidji State University, USA), Gary A. Berg (California State University Channel Islands (Retired), USA), Judith V. Boettcher (Designing for Learning, USA), Caroline Howard (HC Consulting, USA), Lorraine Justice (Hong Kong Polytechnic University, Hong Kong)and Karen D. Schenk (K. D. Schenk and Associates Consulting, USA)
DOI: 10.4018/978-1-60566-198-8.ch264
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Abstract
In 1992, the economist, Gary Becker, won the Nobel prize for his work that demonstrated the importance to organizations of human capital and of training, in particular. Despite the importance of human capital to the long-term health and growth of organizations, they continue to under-invest in training (Becker, 1993). In The Human Equation, Jeffrey Pfeffer (1998) explained why, “Training is an investment in the organization’s staff, and in the current business milieu, it virtually begs for some sort of return-on investment calculations” (p.89). In other words, because organizations do not adequately measure the value that training adds, they fail to reap the benefits of fully investing in training. This article shows you how to measure your return on investment in training.
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