I-CAR Creates Online Tool to Calculate Training's Return on Investment

I-CAR Creates Online Tool to Calculate Training’s Return on Investment

Shop owners and managers can now calculate their own training return on investment (ROI) based on industry KPI standards, number of technicians and the facility’s total revenue.

i-car-logoI-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 (ROI) based on industry KPI standards, number of technicians and the facility’s total revenue.

The business tool was developed based on several years’ worth of research findings. Data reveals that I-CAR Gold Class shops outperform non-Gold Class shops in every major KPI category, which leads to improved network ratings, reduced risk and improved customer satisfaction scores (CSIs). 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.

“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. Seventy-five to 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. Nick Notte, I-CAR director of business development, will present the Value of Training calculator at NACE | CARS 2016 on August 12th in Anaheim, Calif.

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