A Better Metric for the Value of a Worker Training Program
FEBRUARY 14, 2017
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. Applying a form of TCO to workforce programs makes sense because, instead of concentrating on inputs (in the form of spending), this approach emphasizes outcomes (in the form of long-term results). Generation is also developing tools to improve data collection and management.