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 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, 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 purposes.
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 the 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.
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
Total Training Cost = General Costs + Loss of Productivity
That’s it. Your Training Cost Per Employee (TCPE) is calculated.
Download and use training cost per employee calculator
To use this free printable training cost per employee calculator excel template, you should have Microsoft Office/ Microsoft Excel installed in your system.
After installing Excel or Spreadsheet, download the zip file of this template, extract the template using WinRAR or 7Zip decompressing software.
Once extracted, you can open the file using Excel and start entering data or customizing the template. You can customize the currency, color scheme, fields in this excel template as per your requirement.