EDUC 240 Lecture Notes - Lecture 45: Effect Size, Job Performance, Standard Deviation
3 Jun 2020
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Click on the table for training program costs above. For invested into this training program, the company gains . 47. Five steps involved in converting measures to monetary values: Focus on a single unit: determine a particular unit of output to target for improvement (e. g. output, quality, time, employee behaviour). Determine a value for each unit: based on single unit in step one. Easier for hard measures (e. g. units sold) than soft ones (e. g. cost of one employee absence). Calculate the change in performance: eliminate all confounding variables so that the measure reflects a change in units that is attributable to the training. Industry standard: total change in the performance data during one year. Determine the annual value: the annual performance change multiplied by the unit value. A method to forecast the net financial benefits that result from human resource programs such as training and development. U utility, or dollar value of the program.
