Training Budget Worksheet

Introduction

Carter company limit of employees is set at a minimum of 38 and a maximum of 55 employees per annum. In compliance to the work health and safety act regulation of 2011 needs that an employee selects a health and safety program to be represented or one needs to go through a five-day safety and health training program and consecutive annual safety and athletic training. There is a recommended ten hour or thirty-hour training sessions of identification, avoidance, and prevention of safety and health hazards in working environments following the OSHA training standards.

The table below illustrates a training development and implementation budget of 10 hours, 10-day training of 55 employees of Carter’s material handling equipment company.

 

TYPE OF COST ESTIMATED COST UNIT MULTIPLIERS TOTAL COST TIMING OF EXPENSE
DEVELOPMENT COST

curriculum

 

 

external consultants

 

 

presentations material

 

 

 

$20/hour

 

 

$50/hour

 

 

$10,000

 

 

120 hours

 

 

60 hours

 

 

n/a

 

 

$2400

 

 

$3000

 

 

$10,000

 

 

Year 1

 

 

Year 1

 

 

Year 1

IMPLEMENTATION COST

Instructor salaries

 

 

External consultants

 

 

 

STUDENTS COST

Internal salaries

 

Meals, travel and incidentals    and another business impact

Student materials

Rent for equipment

FACILITIES COST

ICTfacilities charges

Facilities overhead

 

 

 

$40/hour/coach

 

 

$100/coach

 

 

35-hour/employee

 

25-hour/employee

 

 

 

$25/day

$20/day

 

$30/day

$20/day

 

 

 

8×100 hours

 

 

Eight coaches

 

 

55×100

 

55×100

 

 

 

Ten days

Ten days

 

Ten days

Ten days

 

 

 

$32000

 

 

$800

 

 

$192500

 

$137500

 

 

 

$250

$200

 

$300

$200

 

 

 

Year 1

 

 

Year 1

 

 

Year 1

 

Year 1

 

 

 

Year 1

Year 1

 

Year 1

Year 1

OTHER COSTS

Evaluation and maintenance of training

 

Software maintenance and license

 

ICT support

 

30-hour/employee

 

 

$800/year

 

 

$60/hour

 

 

100×55

 

 

n/a

 

 

100×10

 

$165000

 

 

$800

 

 

$60000

 

Year 1

 

 

Year 1

 

 

Year 1

   

 

Total program cost year 1

 

 

$604,950

 

 

Year 1

 

The Benefit of the Cost Budget to The Organization Management

Carter’s material handling equipment company deals with manufacturing materials that include small cantilever racks, hand racks and other machinery used in the manufacturing sector. Thus this makes the working environment risk and exposing the employees to accidents and contamination of illness. Therefore, budgeting and scheduling for regular safety and health training are paramount for the company to create employee awareness in the identification, prevention, and avoidance of safety and health hazards within the working environment. There are significant financial advantages of the budgeted training; the amount used in practice will translate to more long term advantages for the company and employees. The method will be a motivation to the employees that will make them feel part of the company, and this will increase the company’s productivity which will lead to increased profitability. There will be reduced accidents due to the training, and this will translate to reduced self -claims from work injuries among employees and also reduced insurance premiums that will be paid by Carter’s company. The above will also enable the company to meets the OSHA standards that need the company to organize safety and athletic training for its employees. The safety and health training will lead to improving Carter’s company reputation which will translate to improved service delivery and enhanced quality production and increased profitability.

 

References

Haight, J. M. (Ed.). (2012). Hazard prevention through active safety and health training. Des Plaines, IL: American Society of Safety Engineers

Training Requirements in OSHA Standards (OSHA Publication No. 2254-07R 2015).

 
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