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With the help of some basic assumptions about training costs and the value of your team's time, these spreadsheet-based tools can help you evaluate the payoff of keeping your team up-to-date on the latest skillsets.
Though it will require some estimate of future benefit, this calculator tool will help you attempt to quantify the ROI of training. As long as an estimate can be reasonably backed up by facts, you should get a rough idea of the expected benefit from training. This can help in deciding between two or more different training options.
The first worksheet in this tool provides tables where decision-makers can outline the cost of the training initiative and the potential areas of benefit. The second worksheet, "Training ROI," will use these inputs to calculate the ROI.
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