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QUALITY ASSURING TECHNICAL -VOCATIONAL EDUCATION & TRAINING

QUALITY ASSURING TECHNICAL -VOCATIONAL EDUCATION & TRAINING . DEMONSTRATING RETURN ON INVESTMENT (ROI) . PRESENTATION OVERVIEW . ROI in TVET Other ROI Indicators Evaluation Methods Benefits of ROI Summary Conclusion. Definitions Key Features Globalization History of ROI

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QUALITY ASSURING TECHNICAL -VOCATIONAL EDUCATION & TRAINING

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  1. QUALITY ASSURING TECHNICAL -VOCATIONAL EDUCATION & TRAINING DEMONSTRATING RETURN ON INVESTMENT (ROI) W.C.Fletcher:Nov 3&4, 2013

  2. PRESENTATION OVERVIEW ROI in TVET Other ROI Indicators Evaluation Methods Benefits of ROI Summary Conclusion • Definitions • Key Features • Globalization • History of ROI • Calculating ROI • Indicators of ROI W.C.Fletcher:Nov 3&4, 2013

  3. Principal objectives • Greater Awareness of ROI in TVET • ROI as strategic tool for HCD • ROI Influences resource allocation • Measures & Indicators of ROI • Evaluation Methodologies of ROI • Benefits of Evaluating ROI W.C.Fletcher:Nov 3&4, 2013

  4. WHAT IS QUALITY ASSURANCE? • “Programme for the Systematic Monitoring and Evaluation of the various aspects of a Project, Service, or Facility to Ensure that Standards of Quality are met” • Merriam – Webster on-line Dictionary W.C.Fletcher:Nov 3&4, 2013

  5. WHAT IS QUALITY ASSURANCE ? • “Part of Quality Management, providing Confidence that Quality requirements (needed or expectations that are stated, generally implied, or obligatory) will be Fulfilled” • International Standards Organization (ISO) W.C.Fletcher:Nov 3&4, 2013

  6. WHY QUALITY ASSURE ? • Build & Maintain Organizational Brand, Integrity and Reputation • Minimize mismatch & LM distortions • Create Competitive Advantage • Provide Superior Utility Value • Gain/retain Customer Affirmation W.C.Fletcher:Nov 3&4, 2013

  7. KEY ELEMENTS OF QA SYSTEM • Planning – goal setting • Implementation – guiding SOPs • Evaluation – monitoring mechanism • Review – analyse/compare results • (EQAVET) W.C.Fletcher:Nov 3&4, 2013

  8. globalization & TVET • Globalization defines 21stcentury econ. Skills = currency of LM transactions, certification => instrument of trade, to navigate LM. Productivity determined by competence of employees as well as standardization of production systems. W.C.Fletcher:Nov 3&4, 2013

  9. globalization & TVET • In final analysis, businesses compete for markets in the international arena • In this environment (NWO), labour becomes internationalized through standardization and portability W.C.Fletcher:Nov 3&4, 2013

  10. GLOBALIZATION & TVET • Against this background, modern and efficient TVET Quality Management System becomes an imperative, especially within context of Resource Constraints, Programme Relevance and International Competitiveness W.C.Fletcher:Nov 3&4, 2013

  11. QUALITY ASSURING TVET • Competitive Forces Shape Strategy: • Structures, Systems & Processes • Facilities, Standards & Procedures • Monitoring & Evaluation • Technology - Leadership & People • Value Proposition W.C.Fletcher:Nov 3&4, 2013

  12. TRAINING & ORG PERFORMANCE • Why invest in TVET? Correlation training  performance? • Body of literature that links training with organizational performance • ILO links skills development (TVET) with organizational productivity W.C.Fletcher:Nov 3&4, 2013

  13. Training & org performance • Through training HR is transformed into HC => greater value-added • Firms invest in HR, create distinctive competence and build org capacity - even without knowing the ROI W.C.Fletcher:Nov 3&4, 2013

  14. Measuring ROI • Calculating ROI ranges from a simple ratio: [Benefits/Costs] x 100 = %ROI • To more complex means such as; Pay Back - months/years before benefits match costs incurred • Note: shorter the pay back period, more feasible the investment W.C.Fletcher:Nov 3&4, 2013

  15. Measuring ROI • Sophisticated models - Computer applications, where I/O variables are processed and results generated • ROI when indirect variables are less quantifiable => challenging exercise W.C.Fletcher:Nov 3&4, 2013

  16. INDICATORS of ROI • (1) Productivity Improvement: • Improved work methods => reduced human effort • Higher skill levels => faster work, reduced Cycle Time • Greater intrinsic motivation => improved morale, greater output W.C.Fletcher:Nov 3&4, 2013

  17. INDICATORS of ROI • (2) Labour Savings: • Less duplication of effort • Fewer mistakes => less rework => higher quality => greater productivity • Faster access to information • Critical differentiator, provides competitive advantage W.C.Fletcher:Nov 3&4, 2013

  18. INDICATORS OF ROI • (3) Other Cost Savings: • Fewer machine breakdowns => lower maintenance costs => greater profit • Lower Staff T/O => lower HR cost • Fewer customer complaints, greater loyalty => higher retention rate W.C.Fletcher:Nov 3&4, 2013

  19. Evaluating ROI IN TVET • ROI in TVET means; measuring all economic returns generated from investing in training • Comparing results with the true cost of training programme • Determine average annual ROI W.C.Fletcher:Nov 3&4, 2013

  20. WHY MEASURE ROI IN TVET ? • Evaluating ROI is not an audit of training, neither cost saving • Rather an objective evaluation and re-engineering of training programmes • Tool to ensure that future training is targeted and effective W.C.Fletcher:Nov 3&4, 2013

  21. WHY MEASURE ROI IN TVET? Facilitates Comparative Analysis W.C.Fletcher:Nov 3&4, 2013

  22. Why measure ROI IN TVET? • Like other investments, QA TVET consumes resources (cost), it also produces benefits • Reasonable rate of return (for risk) is therefore an expectation • Probably more talked about, than actually done! W.C.Fletcher:Nov 3&4, 2013

  23. HISTORY OF ROI IN TRAINING • Kirkpatrick’s 4 - level model • Reaction – the degree of favourable reaction to training intervention • Learning – degree to which intended competence (KSA) is developed after training intervention W.C.Fletcher:Nov 3&4, 2013

  24. HISTORY OF ROI IN TRAINING • Behaviour – degree of application, • post training intervention • Results – degree to which targeted • outcomes are achieved (ROI) W.C.Fletcher:Nov 3&4, 2013

  25. EQAVET INDICATORS OF ROI • Programme Participation Rate • Completion Rate (Certification) • Employment Rate (skills utilization) • Productivity Improvement • Unemployment Rate (decline) • Organizational Competitiveness W.C.Fletcher:Nov 3&4, 2013

  26. OTHER INDICATORS OF ROI • Individual level: • Enhanced Reflective Capacity • Critical Thinking & Analytical Skills • Problem Solving Capability • Continuous Improvement • Autonomous & Accountability W.C.Fletcher:Nov 3&4, 2013

  27. EVALUATION METHODOLOGIES • Several methods of evaluating ROI • Method used depends on objectives of ROI evaluation, examples: • Control Group, Modelling, and Estimating W.C.Fletcher:Nov 3&4, 2013

  28. CONTROL GROUPS • High validity in terms of isolating effects of training programme • One group participates, other does not (similar in all other respects) • Random selection techniques • Disadvantage - some staff do not get benefit of the training programme W.C.Fletcher:Nov 3&4, 2013

  29. MODELLING • Analytical & mathematical, non- linear relationships • Several variables influence results, calls for sophisticated stats models • Appropriate data & models available, => accurate predictor of performance variables W.C.Fletcher:Nov 3&4, 2013

  30. ESTIMATION • Participants state how much of their improvement due to training prog. • Adjusted for level of confidence (60% x 70% con = 42%) • Validate – supervisors & peers asked • to weight estimates = > 360 -degree W.C.Fletcher:Nov 3&4, 2013

  31. EVALUATION CRITERIA • Evaluation criteria classified as either hard or soft data • Hard: quantitative - easily convertible into monetary terms • Soft: qualitative - from HR training database, not easily convertible $$ W.C.Fletcher:Nov 3&4, 2013

  32. EXAMPLE - EVALUATION CRITERIA HARD DATA SOFT DATA Work ethics Absenteeism Work climate Social Tension Work attitude Staff development • Production output • Units sold • Products rejected • Scrap produced • Labour productivity • Number of accidents W.C.Fletcher:Nov 3&4, 2013

  33. BENEFITS OF EVALUATING ROI • Validates training as a business tool for improving performance & profit • Justifies training costs incurred by HR • Improvement in training prog design • Rational selection of training delivery methodologies W.C.Fletcher:Nov 3&4, 2013

  34. SUMMARY & CONCLUSION • Globalization drives International Competitiveness • TVET’S Relevance linked to QA • Demonstrating ROI Strategic Tool • Comparative Analysis • Capacity Building & HCD W.C.Fletcher:Nov 3&4, 2013

  35. ACKNOWLEDGEMENTS • European Quality Assurance in Vocational Education & Training (EQAVET) • International Labour Organization (ILO) • Naish, Richard: ROI – Building Business case for people development • Kirkpatrick, Donald: Evaluating Training Prog. • THANKS FOR YOUR ATTENTION !! W.C.Fletcher:Nov 3&4, 2013

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