What are Training Expenses?
This metric keeps track of your training expenses.
How to calculate Training Expenses?
($) training expense 1 + ($) training expense 2 + … + ($) training expense n = ($) Training Expenses
You could also measure how much of your training budget has been spent, using the following formula:
($) total training expenses / ($) total training budget = (%) Training Budget Spent
Companies that want to make sure they retain talent invest in its continuous development. Some companies allocate a fixed allowance per employee, while others have a more ad-hoc approach to training. Either way, it’s a great way to foster employee growth, which often nurtures fulfilment and workplace happiness.
Tracking training expenses is useful, but make sure you also track how satisfied your employees are as a result of the training.
How should you visualize Training Expenses?