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| Training R. O. I. Calculation | ||
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How good does it have to be? There is a hidden cost element in sales training. The sales effort that would have been made if the training hadn't happened: Missed Opportunity Cost Based on 234 working days in a year and dividing the sales effort equally among them, sales people must sell 0.43% more for each day's training, just to stand still. If you add the training fees to the missed opportunity cost it is easy to work out exactly how much more a sales person must sell to get a positive return on the investment. For example: If a sales persons normally achieves £250,000 of profit in a year, the missed opportunity cost is £1075 per day of training. If the training costs £300 per person, per day, the total cost is £1,375 per day. For this example, to get a 100% return on one day's training a sales person must make £2,750 more profit or 1.1% of the normal achievement, as a result of the training.
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