article thumbnail

A Better Metric for the Value of a Worker Training Program

Harvard Business Review

In a dynamic economy workers are expected to adapt, to change not just jobs but sometimes careers, to pick up new skills when necessary. 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.

Metrics 11
article thumbnail

Do We Need A Recruitment Agency For Robots?

The Horizons Tracker

Internalize the costs of automation (and their benefits) – With a particular focus on the total cost of ownership (TCO). Most of those with successful deployments revealed that their leaders understood the TCO for automation projects very well.

TCO 74