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

Author

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  • Vladimir Ermakov

    (Swiss Business School, Russia)

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.

Suggested Citation

  • Vladimir Ermakov, 2011. "Return on Training in the Knowledge-Based Economy: Review and Analysis of Existing Approaches to Evaluation of Training Outcomes," MIC 2011: Managing Sustainability? Proceedings of the 12th International Conference, Portorož, 23–26 November 2011 [Selected Papers],, University of Primorska, Faculty of Management Koper.
    • Handle: RePEc:mgt:micp11:557-579
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