A Better Metric for the Value of a Worker Training Program
FEBRUARY 14, 2017
That lack of knowledge is costly. But according to the World Bank , only 30% of youth employment programs are successful, with many of those offering only marginal benefit. In a dynamic economy workers are expected to adapt, to change not just jobs but sometimes careers, to pick up new skills when necessary. Many measure cost per student. These metrics are useful but miss the big picture, in part because they mistake a program’s cost for its value.