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Return on Training in the Knowledge-Based Economy: Review and Analysis of Existing Approaches to Evaluation of Training Outcomes

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  • Vladimir Ermakov

    (Swiss Business School, Russia)

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    Abstract

    Studies report that in the knowledge-based economy the company’s sustainable growth depends on its employees. Having identified a positive correlation between investments into training and bottom-line, organizations pump millions of dollars into personnel and want to estimate ROI. For justifying training costs, training professionals should know the training evaluation techniques and master the proper language for successful communication with the financial department and top management. Based on the extensive literature review, this paper analyses existing approaches to estimating ROI into training. This study highlights the traits of up-to-date methods for estimating return on training, identifies weaknesses and outlines the areas for further research.

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    Bibliographic Info

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    This chapter was published in: Vladimir Ermakov , , pages 557-579, 2011.

    This item is provided by University of Primorska, Faculty of Management Koper in its series MIC 2011: Managing Sustainability? Proceedings of the 12th International Conference, Portorož, 23–26 November 2011 [Selected Papers] with number 557-579.

    Handle: RePEc:mgt:micp11:557-579

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    Web page: http://www.fm-kp.si/zalozba/ISBN/978-961-266-113-7.htm
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    Related research

    Keywords: return on training; ROI of training; training evaluation; knowledge management; human resources;

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    1. Thang, N. & Buyens, D., 2008. "What we know about relationship between training and firm performance: a review of literature," Vlerick Leuven Gent Management School Working Paper Series 2009-01, Vlerick Leuven Gent Management School.
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