Training programs are at the heart of person-focused pay programs. The following is a sample training budget:
Question:
Training programs are at the heart of person-focused pay programs. The following is a sample training budget:
A. Development costs (e.g., salaries and benefits of personnel, equipment): $30,000 B. Direct implementation costs (e.g., training materials, technology costs, facilities, travel, equipment, instructor’s salary and benefits): $12,500 C. Indirect implementation costs (e.g., overhead, general and administrative): $95,000 D. Compensation for employees while in training: $240,000 E. Lost productivity or costs of “backfilling” positions during training: $200,000 Questions:
1. What is the total cost of training based on the current budget?
2. Let’s assume that 100 employees will participate in this training program. What is the average training cost per employee?
3. Employee salaries are based on an hourly rate of $20 and 100 employees receive training.
Based on total compensation for employees while in training (line D), how many hours does each employee spend in training?
Step by Step Answer:
Strategic Compensation A Human Resource Management Approach
ISBN: 9780134320595
9th Edition
Authors: Joseph J Martocchio