Training Cost Per Employee Calculator is a ready-to-use excel template with predefined formulas to calculate the training cost spent on each employee.
In this template, you just need to enter the total cost spent on training and the number of trainees and it will automatically calculate the Training Cost PEr Employee (TCPE) for you.
What does Training Costs include?
In general, the amounts spent on training of employee are training costs. But in HR, it has a broader meaning. While calculating the total training cost it includes instructor cost, facility costs, equipment costs, loss of productivity etc.
Formula To Calculate Training Cost Per Employee
Training Cost Per Employee is also known as TCPE. Generally, the total training cost divided by the number of trainees will give you the training cost per employee.
TCPE = Training Costs/Number of Trainees
When we calculate the training cost, we include instructor costs, facility costs, equipment costs, travel costs, living costs, food costs and forget to include the loss of productivity. Loss of productivity is the loss of work due to the absence of an employee for training purpose.
In addition to the above, some of our regular staff also administrates the training sessions. This also must be included in the loss of productivity. Thus, the TCPE will be incomplete without the loss of productivity.
Training Cost Per Employee Calculator Excel Template
To help you easily calculate the Training Cost Per Employee, we have created Training Cost Per Employee Calculator in excel with predefined formulas.
The template is very simple to use. You just need to enter the required data and it will calculate the TCPE for you.
This template can be useful to HR assistants, HR professionals, HR Managers, and small and medium business owners.
You can download other useful HR templates like Yield Rate Calculator, Absent Rate Calculator, Profit Per Employee Calculator, Revenue Per Employee Calculator, Monthly Attrition Report, Cost Per Hire Calculator, and many more from our website.
How To Use Training Cost Per Employee Calculator Excel Template?
This template consists of 2 sections:
- Train Cost Per Employee (Basic)
- Training Cost Per Employee Detailed Calculations
1. Training Cost Per Employee (Basic)
In this section, you will need to enter only two details; Total Training Costs and the Number of Trainees. Apply the basic formula it will calculate TCPE for you.
2. Training Cost Per Employee Detailed Calculations
This section will help you calculate the actual training cost per employee. Here there are 2 parts A and B.
Section A consists of the following details:
Training Material Costs
Facility Costs (Rental)
Training Equipment Costs
Traveling and Living Costs
Section B consists of the following details:
Loss of Productivity of Trainees
Loss of Productivity of Administration Staff
Training Cost is the sum of Section A and Section B.
Now applying the given formula:
Training Cost Per Employee = Total Training Cost / Total Number of Trainees
Where: Total Training Cost = General Costs + Loss of Productivity
That’s it. Your Training Cost Per Employee (TCPE) is calculated.
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