Impact the bottom line by reducing indirect costs

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Training can also impact the bottom line by reducing indirect costs. These are costs that may not be obvious, but that are still important. For example, safety of work processes or equipment can be improved due to training if workers handle materials or equipment more safely. Employee turnover can also be reduced, because of improved job satisfaction due to the training. Assume that training results in a 10-percent reduction in your turnover rate. Also, assume that the cost of a turnover is 1.5 times the departing employee's salary. For a given average employee salary of you’re choosing, estimate the reduced costs due to the reduction in turnover.

Reference no: EM13855292

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