Average Cost of Training per Employee
Money
Indicates the average amount spent by the organization on training each employee. Training is crucial for employee development and maintaining a competitive edge. By understanding this cost, companies can assess the value they place on training and compare against industry standards or past performance.
Formula
Total Training Costs / Total Number of Employees Trained
Example
If total training costs amount to $50,000 and 100 employees are trained, the Average Cost of Training per Employee is $500.