Top 11 Important Training KPIs HR Managers Should Have$0
- 2 weeks ago
- by doerhrm
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KPIs, or key performance indicators, are measurable metrics used to evaluate the effectiveness and success of an organization or department in achieving its goals and objectives. When it comes to training, HR managers should measure a variety of KPIs to ensure that their training programs are effective in helping employees acquire new skills and knowledge and that these skills are being applied to their job responsibilities.
Here are the 11 most important KPIs for training that every HR manager should measure:
Training ROI (Return on Investment) is a key performance indicator (KPI) that measures the financial return on investment from training programs. This metric allows HR managers to evaluate the effectiveness of training programs by comparing the cost of the training to the benefits gained by the organization.
To calculate training ROI, the total cost of the training program is divided by the total benefits gained. The benefits can be measured in a variety of ways, such as increased revenue, improved productivity, reduced turnover, and enhanced customer satisfaction.
For example, if a company spends $50,000 on a training program that results in a $100,000 increase in revenue, the training ROI would be 100 percent ($100,000 – $50,000 = $50,000 / $50,000 x 100% = 100%). A positive ROI indicates that the benefits of the training program outweigh the cost, while a negative ROI indicates that the cost of the training program exceeded the benefits gained.
Training ROI can help HR managers to make data-driven decisions about training investments, prioritize training programs, and identify areas for improvement in the training process. By tracking training ROI over time, HR managers can also measure the impact of training on the organization’s bottom line and demonstrate the value of training to senior leadership.
Related: How To Develop A Data-Driven Learning Plan & What Training KPIs To Monitor
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