Training Cost Report Available in Report Builder

The Training Cost report is now available in your Report Builder. This report calculates the total cost of a training for your company (employee salary cost, tuition cost, and other costs). This report is especially useful in situations where employers must demonstrate that they invested a percentage of their salary mass in their employee's development. 

 This report calculates the total cost of training for your company which are:

• Employee cost - To calculate the salary cost of the employee's participation in the training, the report uses the Learning Hours multiplied by the hourly rate. It uses the data available in the employee's benefits section. If there are no Learning hours specified in the Training record, the calculation will be based on the number of days.
• Course cost - This is based on the Training cost field in the Training record. If you use a cost per day or complete price, the report will do a calculation to determine the course cost for the specific employee.
• Others costs - This is added to the Training record.

To find this report, you must go to:

Reporting > Report builder

Locate your "Training costs report (Standard)" report.

Before running the report, we recommend you to reset the total reward values that the report will use, especially if you made changes to salaries or working patterns since the last time you ran the report. To do so, you must go to this link:

https://login.hrwize.com/hr/company/reset-total-reward

Once on the Total reward page, click on the 'Reset' button. By clicking on this button, this process calculates the benefits value used in Reporting, in the Total rewards screen, and the Dashboard - this will update the values in the back-end that the report uses to calculate the salary cost. Please note that this will not delete nor affect the employee's file or any field in HRWize:

In the report, you will find the "Funding" field; this will help you differentiate the trainings that are eligible for calculations for your yearly training investment and other trainings that are not (i.e. Eligible for 1%).

How does the system calculate the employee's salary cost?

The system will calculate the salary cost (whether salaried or hourly) by looking up the salary and the working pattern (hours per week, days worked, etc.) of the employee. If nothing is found in the employee's file, it will look at the site or the company's defaults.

Not available in your system?

If this report is not available in your list of reports in Report Builder, you can create this report by using the data source as "Training". Click here for more information on how to create a report.