What metrics might be useful for evaluating the effectiveness of a company's training program? ROI (Return On Investment in learning)?
With a training program, the return on investment is the same as any other investment of resources. In order to make decision to initiate or continue (or purchase, etc), it is necessary to determine what the gain will be in relation to the cost, or the return on investment.
First, a review of the basis of determining return on investment. To do so, you need to know the costs and what to identify as gains.
For costs, what are the fees, payments, taxes, research costs, maintenance costs, etc? Any hidden costs must also be considered and figured into the estimate of costs.
For a company training program, examples of costs would be ages for trainer and trainee while in training, any travel costs, any equipment costs, any costs associated with trainer ...
A return on investment in learning is examined. A metric which might be useful for evaluating the effectiveness of the company's training program is determined.