At a regional power company, managers are in charge of assigning training and development opportunities...

[Reference: SHRM recommends conducting cost-benefit analyses to evaluate the financial impact and benefits of HR programs (SHRM, Conducting Cost-Benefit Analysis for HR Programs)., Quantifying Benefits:, Employee Performance: Assess how training and development contribute to improved employee performance, productivity, and efficiency., Retention and Engagement: Evaluate the impact on employee retention, engagement, and job satisfaction, which can reduce turnover costs., Reference: SHRM outlines that the benefits of training include enhanced performance and reduced turnover, which should be considered in the analysis (SHRM, Measuring the Impact of Training and Development)., Financial Metrics:, Direct and Indirect Costs: Consider both direct costs (training materials, facilitators) and indirect costs (time spent, potential loss of productivity) in the analysis., ROI Calculation: Calculate the ROI by comparing the benefits (e.g., increased productivity, reduced turnover) to the total costs incurred., Reference: SHRM emphasizes the importance of including all relevant financial metrics in a cost-benefit analysis to determine the overall value of training programs (SHRM, Calculating ROI for Training Programs)., Strategic Alignment:, Strategic Goals: Align the analysis with the company’s strategic goals to demonstrate how training supports long-term objectives., Executive Support: Use the results to gain executive support by showing the strategic and financial benefits of continuing the training programs., Reference: SHRM advises aligning HR initiatives with organizational strategy to gain executive buy-in (SHRM, Strategic Alignment of HR Programs)., References:, SHRM. (n.d.). Conducting Cost-Benefit Analysis for HR Programs. Society for Human Resource Management., SHRM. (n.d.). Measuring the Impact of Training and Development. Society for Human Resource Management., SHRM. (n.d.). Calculating ROI for Training Programs. Society for Human Resource Management., SHRM. (n.d.). Strategic Alignment of HR Programs. Society for Human Resource Management., ]