Predicator Helps Identify Where Training Is Needed
The Proskills Academy for Materials, Production and Supply has launched the Predicator tool, aimed at helping businesses across its industries calculate the cost of not investing in staff training. The Predicator tool is designed to help businesses identify where training is required and also where it has proved successful. The tool, which is part of a range of products and services from Proskills designed to achieve bottom-line improvement through skills, can highlight the amount of wastage that a business has.
As an example, imagine a team of eight, each of which you pay GBP20,000 per year. If they are only performing at 70 per cent of their potential, that is GBP48,000 in wasted salary before you even begin looking at the wider impact on the bottom line. Some companies spend a large amount of money on training to increase productivity, enhance employee retention and reduce waste, but the investment in training needs to be in areas that will deliver the highest impact to a business.
However, not all companies measure the success that the training has had on the company and the cost savings that have been made. Predicator also allows employers to estimate where their current performance lies, highlights the gaps in performance for a particular job type and suggests where investment in skills training will add the greatest value. By evaluating the current performance of a workforce and calculating how much value could be added to a business through investment in targeted skills training, companies will see an improvement in staff performance, according to Proskills.
As an example, imagine a team of eight, each of which you pay GBP20,000 per year. If they are only performing at 70 per cent of their potential, that is GBP48,000 in wasted salary before you even begin looking at the wider impact on the bottom line. Some companies spend a large amount of money on training to increase productivity, enhance employee retention and reduce waste, but the investment in training needs to be in areas that will deliver the highest impact to a business.
However, not all companies measure the success that the training has had on the company and the cost savings that have been made. Predicator also allows employers to estimate where their current performance lies, highlights the gaps in performance for a particular job type and suggests where investment in skills training will add the greatest value. By evaluating the current performance of a workforce and calculating how much value could be added to a business through investment in targeted skills training, companies will see an improvement in staff performance, according to Proskills.
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