This book reports an attempt to replicate, for Australia, overseas survey results on the payoff to enterprise training. Some of the results are: * Australian firms provide extensive training for their incoming employees and capture nearly all the resulting productivity gains. * The profitability of firms is directly related to the amount and quality of training that they provide. * The profitability of training is particularly high for training that is highly specific, rapidly accomplished and related to the introduction of new technology. * Informal learning is regarded by many businesses as superior to formal classroom training in terms of its impact on profitability and productivity.
In this study a training evaluation process is developed to assist organisations in identifying the financial returns from training investment decisions. A well designed and delivered training program can be expected to generate significant financial returns that compare quite favourably with other forms of investment. Returns on investment for various training programs are presented.