Anaheim, California — August 5, 2016 — Following years of development, I-CAR has unveiled a brand new business tool designed to calculate the dollar value of training industry technicians for shop owners and managers. The organization plans to present the program at NACE 2016, taking place in Anaheim, California from August 9 to 13.
Appropriately named the Value of Training calculator, the new tool will provide industry leaders with the opportunity to see first hand the return they’ve had on their initial investment. Taking into account trade KPI (key performance indicator) standards, number of technicians trained and a facility’s total revenue, the device will place a recognizable value on training industry employees.
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.
Put together after several years worth of research and data analysis, I-CAR CEO and President John Van Alstyne said the new tool would, by and large, prove what the industry already knew – that there is real value in training your employees.
“The new Value of Training calculator enables those at the management level in repair facilities to explore the financial return on investment that training has been proven to deliver,” Van Alstyne said in a statement to media. “Owners and managers need to understand that technician training is a requirement in today’s era of new car model proliferation.”
He added, “75 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.”
Data collected during the tool’s development indicates that I-CAR Gold Class shops outperform non-Gold Class shops in every major KPI category, which, according to I-CAR, leads to improved network ratings, reduced risk and improved customer satisfaction scores.
Nick Notte, I-CAR director of business development will present the calculator at NACE on August 12 in a 30-minute seminar starting at 8 a.m. The calculator can be found at I-CAR.com/trainingpays.