Use Balanced Scorecard system for training evaluation

The last decade so a sharp increase in the number of different practical courses, seminars and training sessions for professionals of all kinds.  And no wonder!  There is quite as simple explanation – business owners understood that the best way to earn money or invest in the company is to invest in personnel.

Imagine that you own a business.  Your company has been doing OK for a long time but now it faces serious challengers and problems.  But you can not understand what has gone wrong.  You invested money, purchased new equipment introduced new techniques and methods.  But you never invested in personnel.  Thus your employees remain on the same professional level while your competitors regularly train their personnel. Even if you possess huge Financial Resources your company will still fail if your personnel will be unable to smartly use the money.  That is why training is so much important for any business.

Balanced Scorecard system is a great tool for training evaluation

Balanced Scorecard system is a great tool for training evaluation

At the same time you need to make sure that your training campaign is effective.  Organizing training is not enough to succeed.  You should know that you efficiently spend every dollar you invest in your employees.  People who work for you need to opting me you knowledge and the new use it in the work.  If it is not so the training will be just wasting money and time.

But how can you measure training efficiency?  Just use balanced scorecard system and you will have all the problems solved.  Balanced scorecard system is the tool which is widely used in business performance evaluation.  Training is a very important aspect of running business.  Thus training evaluation or measurement is a must for your company.

What are main advantages and of using balanced scorecard system?  One of the greatest advantages is that this tool will evaluate individual KPIs which are indicators that show different aspects of training efficiency and company performance.  KPIs are different in different businesses.  That if we are talking about training we need to pay a special attention to the following KPIs:

  • Cost per employee.  This is perhaps the most important KPI in training metrics.  And if you manage to spend a little money for training one employee and get profits you’re an efficient manager.  Of the however are be careful since saving too much may result in big problems for your company.
  • Revenue per employee.  Balanced scorecard system will help you calculate how much profit you have or don’t have as a result of training.
Most important training evaluation KPIs

Most important training evaluation KPIs

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