As part of our better practice studies* we have noted the concern HR functions have over the value they are getting for their training dollar.
You pay your staff for 52 weeks a year, yet many companies are only prepared to invest one week of salary, 2% of payroll costs, in training. Most of this budget may be consumed on one day seminars which are focused around information gathering rather than learning: as one participant said to me learning is to do with doing.
The majority of participants in our surveys invest a relatively small amount into training – between 1% to 3.5% of payroll. There is only one participant who is investing 5% of their total payroll into training, and another investing 4%.
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An in-depth look at how to create and use key performance indicators (KPIs), from the King of KPIs – now updated and expanded!