ABSTRACT
Traditionally, most impact evaluation studies stop with a tabulation of business results, detailing improvements such as quality enhancements, reduced absenteeism, or improved customer satisfaction. While these results are important, it is more meaningful to compare the monetary value of the results to the cost of the program, because some programs cost more than the value of the delivered business results.1 This ultimate evaluation is the fifth level in the five-level evaluation framework presented earlier. This chapter shows how leading organizations are moving beyond tabulating business results to calculating a return on investment on HRD programs.
