Title: RETURN ON TRAINING IN KNOWLEDGE-BASED ECONOMY: REVIEW AND ANALYSIS OF EXISTING APPROACHES TO EVALUATION OF TRAINING OUTCOMES
Abstract: Various studies report that in knowledge-based economy the company’s sustainable growth and prosperity depend on its highly educated and skilled employees. Having identified a positive correlation between investments into personnel training and development, and the bottom-line results, organizations pump millions of dollars into human resources and, therefore, want to estimate payback of such huge investments. In order to justify training costs, especially during a downturn, training professionals should be aware of current training evaluation techniques and master the language of numbers for successful communication with financial department and top management. Basing on the review of dozens of books, articles and reports dedicated to the training evaluation, this paper analyses the existing approaches to estimating return on investments into training and development programs. This study highlights the traits of up-to-date methods for estimating return on training, identifies their weaknesses and outlines the areas for further research of this challenging subject.
Publication Year: 2011
Publication Date: 2011-01-01
Language: en
Type: preprint
Access and Citation
Cited By Count: 2
AI Researcher Chatbot
Get quick answers to your questions about the article from our AI researcher chatbot