Cost Benefit Analysis for Training
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A comprehensive training programme involves the systematic development of various competencies and facilitating the development of the knowledge, skills and attitude required by the employees at work. It includes specific interrelated and interdependent steps which progress systematically for getting the desired outcomes from the training & development efforts.
The systematic framework starts with the stage of understanding the organization’s aims and objectives and the determination of the crucial strategies which will lead to the achievement of the predefined goals/objectives.
In other words, the first stage of a systematic approach to training begins with the determination of a blueprint or a training & development roadmap.
Training Needs Assessment essentially involves assessment of the gap between the desired level of competencies and existing competencies required for handling a job. Training Needs Analysis aims at assessing the discrepancy between what an employee should be doing at work and what he or she is capable of doing.
Determination of the training objectives while formulating a training plan is as important as analyzing the budgetary permutations for conducting a comprehensive training programme. It details what the trainees will be able to learn at the end of the training programme and how they will be able to apply the learning at work. If training objectives are specified well in advance during the planning stage itself, it will improve the effectiveness of the training programmes and maximize the ROI.
The Training Strategy Design stage is again a very crucial stage of the Systematic Framework of Training & Development process. During this stage, the various possible alternatives are assessed and compared for reaping the optimum benefits from a training & development exercise. It includes analysis of the multiple parameters such as designing course modules/content framework, deciding upon the training pedagogy or methodologies (Experiential or Classroom exercises), Preparation of the Preview Learning Materials/Handouts for the trainees and identifying the critical learning pointers for the trainees at the end of the training programme.
During the training implementation stage, the trainer gives maximum importance to the selection of the right training methodology for maximizing the learning experience and imparting value with the help of the training programme. The methods may vary from outdoor training to in-house sessions, experience sharing, counseling & feedback sessions, experiential or practical training, on the job training, job rotation, case studies, deliberations and a lot more. It is mainly about putting the training into actual practice.
One of the most crucial stages of the Systematic Approach to Training is the evaluation of the effectiveness of the training programme and implementing corrective actions for overcoming the lacuna and ensuring the achievement of the Training & Development Goals.
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