Western Region Conference - Education Costs and Returns handout
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Education Costs and Returns handout presented at the 2011 HARDI Western Region Conference by HARDI Education Services Manager, Emily Saving in her Understanding the ROI of Education presentation.
![Common Training Costs and Returns<br />Training Costs <br />Design and Development Costs<br />Internal/external design costs<br />Purchases of content, copyrights<br />Travel and expenses of design phase<br />Purchase of off-the-shelf materials<br />Promotional Costs<br />Internal labor costs of promotional activities <br />Costs of external agencies<br />Promotional materials (posters, brochures)<br />Administration/Upkeep Costs<br />Internal hours administering the program (registration, making travel plans, keeping records, etc) <br />Direct program administration costs (software, LMS, etc)<br />Faculty/Delivery Costs<br />Expenses of facilitator<br />Any required follow up questions and coaching<br />Faculty hours spent prepping and reviewing for delivery <br />Materials Costs<br />Cost per student of training materials<br />License cost per student of off-the-shelf materials<br />Facilities Costs<br />Training Rooms, equipment rentals, refreshments<br />Student Costs<br />Amount of productive work time lost, represented by payroll dollars<br />Cost of lost output, represented by what the business would have gained through productivity<br />Direct student expenses – travel, accommodations, etc <br />Evaluation Costs<br />Time spent evaluating training<br /> Common Training Costs and ReturnsTraining Returns<br />Labor Savings<br />Occur when less effort is needed to achieve the same output. These savings are realized when we can reduce the amount of labor applied to a particular job, not by utilizing the newly available time to further output on the same job. Labor savings are only realized if the labor applied to a job can be reduced. If the savings result is more slack, then there is no labor savings return.<br />Examples include: <br />,[object Object]](https://image.slidesharecdn.com/e-savingcostsandreturnsroihandout-110328095201-phpapp01/85/Western-Region-Conference-Education-Costs-and-Returns-handout-1-320.jpg)
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- 2. Less time spent correcting mistakes
- 4. Higher levels of skill leading to faster work
- 6. Lower staff turnover, reflected in lower training and recruitment costs
- 8. Sales referrals made by non-sales staff
- 9. New product ideas leading to successful product launches