Monday, 15 August 2016 19:57

I-CAR® Creates Online Tool to Calculate Training's ROI

I-CAR® has unveiled a new way to measure the value of training through its Value of Training calculator. Shop owners and managers can now calculate their own training return on investment based on industry KPI standards, number of technicians and the facility’s total revenue.

According to the company, the business tool was developed based on several years worth of research findings. I-CAR’s white paper, “Data Proves ROI of Collision Repair Training,” served as the baseline for the calculator’s development.

Shop owners and managers can measure the additional revenue a shop can gain through training by inputting its annual revenue, order amount and total number of technicians. The calculator then populates and compares shops without training and those who include training. "These figures were produced by leading industry KPIs imperative to shop success measurements," a statement from the company read.

“The new Value of Training calculator enables those at the management level in repair facilities to explore the financial ROI that training has been proven to deliver,” said I-CAR CEO and president John Van Alstyne. “Additionally, owners and managers need to understand that technician training is a requirement in today’s era of new car model proliferation. 75-100 new or redesigned models are now launching every year, and each one features new advanced technologies that dramatically impact the repair process. A commitment to education is required to survive the ‘Technical Tsunami™’, and our new Value of Training calculator shows that shops can also thrive while they are surviving.”

The calculator can be found at https://www.i-car.com/trainingpays.

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