Training Cost Per Employee Calculator is a ready-to-use excel template with predefine formulas to calculate the training cost spent on each employee.
Moreover, you just need to enter 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?
The amounts spent on training of employees 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 and many more.
Formula To Calculate
This is also known as TCPE is total training cost divided by number of trainees.
TCPE = Training Costs/Number of Trainees
When we calculate 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 loss of work due to absence of an employee for training purposes.
In addition to this, some of our regular staff also administrates training sessions. This also must be included in loss of productivity. Thus, the TCPE will be incomplete without loss of productivity.
Training Cost Per Employee Calculator
To help you easily calculate Training Cost Per Employee, we have create the Employee Calculator in excel with predefine formulas.
The template is very simple to use. You just need to enter 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.
Cost Per Employee Calculator Excel Template?
This template consists of 2 sections:
- Train Cost Per Employee
- Training Cost Per Employee Detailed Calculations
1. Training Cost (Basic)
In this section, you need to enter only two details; Total Training Costs and Number of Trainees. Apply basic formula it will calculate TCPE for you.
2. Detailed Calculations
This section help you calculate. Here are 2 parts A and B.
Section A consists of following details:
Training Material Cost
Facility Costs (Rental)
Training Equipment Costs
Traveling and Living Costs
Section B consists of following details:
Loss of Productivity of Trainees
Loss of Productivity of Administration Staff
Training Cost is sum of Section A and Section B.
Now applying given formula:
Training Cost Per Employee = Total Training Cost / Total Number of Trainees
Where: Total Training Cost = General Costs + Loss of Productivity