Training in Organizations: A Cost Benefit Analysis, Essay Example

The cost / advantage evaluation of the training provides a comparison between the monetary values of the training in comparison to the non – financial benefits. The benefits are difficult to assess monetarily, in the circumstances that include working relationships and attitudes. The value of the workplace good will which is the outcome of a decrease in complaints is challenging to measure. The supervisors are able to acquire expertise in the field of conflict resolution. This expertise has the outcome of enhanced relationships between the union representatives and the supervisors, which is of the greatest significance (Blanchard & Thacker, 2010; Talbot, 2011).

There is a potential that the decrease in complaints may be evaluated in a manner which has the potential of being directly correlated to the cost efficiency inquiry.The assessment of cost effectiveness provides a comparison between the monetary value which is placed upon the training and the financial advantages which are derived from training (Blanchard & Thacker, 2010; Talbot, 2011). There are two distinct perspectives which can be applied in measuring cost effectiveness:

1. The accrual of costs, which is a computation of the actual savings which is founded in the modification of outcomes.
2. The utility analysis is a review of the cost of the complete improvement in the production of the personnel which have been trained. This paradigm is intricate and infrequently applied (Blanchard & Thacker, 2010; Talbot, 2011).

References

Blanchard, P. N. & Thacker, J. W. (2010). Effective training: Systems, strategies and practices (Custom 4^th edition). Upper Saddle River, NJ: Prentice Hall.

Talbot, J. (2011). Training in organizations: A cost benefit analysis. Burlington, VT: Gower Publishing Company.