A Better Metric for the Value of a Worker Training Program
FEBRUARY 14, 2017
The United States has thousands of workforce development and training programs, run by the public, social, and private sectors. We need to adopt something similar to a “total cost of ownership” (TCO) analysis. Now common in industry, TCO considers both direct and indirect costs over time. We developed a new metric — cost per employed day (CPED) over the first six months — that we believe better defines how well employment programs work.