Training and Development (HRM617) Fall, 2019 Assignment No.1
Due Date: 27 January, 2020
Total Marks: 10
Topic: Training Methods
NOTE: Assignments after due date will not be accepted
After completing this assignment a student may
Understand the Total cost of training.
Understand the Return on investment of Training.
A 150 employee ABC Limited Company is facing a high turnover rate. A survey of employees had revealed that the reason for most who left was dissatisfaction with the level of training. It is calculated that on average 25 employees leave ABC limited every year. The cost to hire and train a new employee was Rs. 500,000. To address this issue company has introduced a new training program, which costs Rs. 1,000,000 as instructor cost, Rs. 1,000,000 as material cost, Rs. 3,000,000 as class room and other costs. Average wage of employees is Rs. 300 per hour per employee.
If the newly introduced program is for 80 hours per year per employee:
- Identify the Total cost of Turnover. (2 Marks)
- Identify the Total cost of Training. (4 Marks)
- If after 1 year the turnover drops to 10 employees, what will be the financial benefit of training program? (4 Marks)
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Try not to include any irrelevant material in the solution
Try to come up with precise and original answers.
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RULES FOR MARKING
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