Unlock your Training ROI with Hone’s ROI Calculator

In 2023, the ability to measure training ROI is no longer a ‘nice-to-have’ – it’s a job requirement for training professionals who need to prove that their learning and development (L&D) initiatives drive impact. Why is this? We are still in an economic downturn, and with budgets tight, L&D can often be the first expense to get cut. That is, unless a savvy L&D leader can prove on paper what we know in our gut – that training creates real business value.

At Hone, we understand this urgency and are thrilled to introduce our new ROI Calculator. The ROI calculator is an easy-to-use web tool that helps HR and L&D leaders predict the ROI of their next training initiative in less than 1 minute. Just punch in your unique training attributes (e.g., # of learners, program cost), and our proprietary formula will create a robust ROI report that’s sure to impress even the most skeptical stakeholders. 

How It Works 

Hone’s ROI Calculator was developed by Hone’s resident Measurement Expert, Paul Leone, Ph.D., alongside a team of L&D experts to help training professionals estimate the potential ROI of investing in a training program. The calculator uses a proprietary formula that takes into account a variety of factors to generate a projected ROI, including:

  1. Cost Per Learner – Total amount spent per learner on training in a given year
  2. # of Learners – Total # of learners trained in a given year
  3. Productivity Increase – % increase in productivity resulting from training. This input is pre-filled with 2022 Gallup data.
  4. Average Employee Salary – The average salary of the learners being trained. This field is pre-filled with the average annual manager salary in the United States of $92,400.
  5. % Compensation for Hiring Replacement – This data point is used to calculate the dollar amount saved by retaining top talent with training. This field is pre-filled with an industry average of 57%.
  6. Initial Turnover Rate – An organization’s annual turnover rate before starting training. The average annual turnover rate in the United States is currently 24%. 
  7. % Decrease in Turnover – % decrease in turnover that resulted from training. The current industry average is 43% for low-turnover organizations (<40% turnover).

Note: All of the inputs above are pre-filled with industry data, so you can experience the calculator without having to pull any company information. 

How to Use the ROI Calculator

Ready to forecast your own ROI? It’s super simple. Just head over to honehq.com/roi-calculator or click the button below and follow these steps:

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Step 1. Enter the # of learners being trained. 

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Step 2. Enter the average cost per person being trained. 

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Step 3. Enter the average learner salary. 

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Step 4. Enter the percentage improvement in productivity, pre-training turnover rate, and turnover decrease as a result of training.

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Step 5. Enter the cost of replacing an employee. 

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Step 6. Submit with your work email address.

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Step 7. Receive results, download, and then share! 

Unlock the Potential of Your Own Training Investments

Have 60 seconds to capture your own training ROI? Hop over to Hone’s ROI Calculator and uncover the true value of your programs to take your organization to new heights.

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Unlock your own training ROI! Meet with a learning consultant.