Building and Supporting workforce Large, complex and Difficult to quantify Construction (Large) engagement and multi-faceted program across entire program – worker advancement made data collection sub program identified difficult. $192,600 in savings. Manufacturing (small) Supporting Lean Data-driven culture. 132% return from manufacturing and Uses multiple indicators enhancing worker to monitor change. engagement Manufacturing Supporting workplace Multi-layered program 163% return from error (medium) health and safety produced measurable reduction and saved learning sub-set of data supervision time. Utilities (medium) Supporting new ROI calculated based 102% at one site based technologies and on unit improvements on efficiency improve workforce in service orders. improvements. efficiency Source: Adapted from Brown, J, Taylor, M, McKenzie, P and Perkins, K 2015 Investing in Workforce Literacy Pays: Building Employer Commitment to Workplace Language, Literacy and Numeracy Programs. ACER. Appendix 6 TVET costs, benefits and impact Study (Year) TVET Costs/Benefits and Impact AWPA 2013 Positive effects on business productivity and profitability. Higher returns where training is highly specific; accomplished quickly and related to new technology or Literature review processes. The industry of the business and quality of training may influence the outcomes. CEDEFOP (2013) Education benefits: Improved health, improved environment, reduced national crime and drug use, democratisation and human rights. Adaption to technological Literature review change. Produce higher skilled workforce. Initial TVET – better health, membership of organisations and job satisfaction. Non-market benefits of self-esteem, confidence and opportunities for advancement. Size of organisation, industry and type of training impact on the return. Independent Costs to Individual: Tuition costs, foregone earning opportunities Economics (2013) Benefits to Individual: Higher employability, productivity, pathways to further study
Building and Construction (Large) Supporting workforce engagement and worker advancement Large, complex and multi-faceted program made data collection difficult. Difficult to quantify across entire program – sub program identified $192,600 in savings. Manufacturing (small) Supporting Lean manufacturing and enhancing worker engagement Data-driven culture. Uses multiple indicators to monitor change. 132% return from Manufacturing (medium) Supporting workplace health and safety learning Multi-layered program produced measurable sub-set of data 163% return from error reduction and saved supervision time. Utilities (medium) Supporting new technologies and improve workforce efficiency ROI calculated based on unit improvements in service orders. 102% at one site based on efficiency improvements. Source: Adapted from Brown, J, Taylor, M, McKenzie, P and Perkins, K 2015 Investing in Workforce Literacy Pays: Building Employer Commitment to Workplace Language, Literacy and Numeracy Programs. ACER. Appendix 6 TVET costs, benefits and impact Study (Year) TVET Costs/Benefits and Impact AWPA 2013 Literature review Positive effects on business productivity and profitability. Higher returns where training is highly specific; accomplished quickly and related to new technology or processes. The industry of the business and quality of training may influence the outcomes. CEDEFOP (2013) Literature review Education benefits: Improved health, improved environment, reduced national crime and drug use, democratisation and human rights. Adaption to technological change. Produce higher skilled workforce. Initial TVET – better health, membership of organisations and job satisfaction. Non-market benefits of self-esteem, confidence and opportunities for advancement. Size of organisation, industry and type of training impact on the return. Independent Economics (2013) Costs to Individual: Tuition costs, foregone earning opportunities Benefits to Individual: Higher employability, productivity, pathways to further study
Evaluation-framework-measuring-ROI-in-TVET.docx