Another major, yet elusive cost of not training is downtime (especially when you look at "True Downtime Cost" TDC). Take PLC (Programmable Logic Controller) training for example. The PLC controls plane ramps, elevators, most all infrastructure in the world, most every machine in every industry. There are even PLCs in precision machining industry's CNC machines, yet most do not realize it and receive proper PLC training. Proper PLC training that focus on best practices, safety and reliability guarantees huge savings in downtime cost, and reduced safety incidences and liability risk.
Yet most in all the various industries do not realize cost they are paying because their maintenance and engineers have not received updated and proper PLC training, relying on initial training delivered on old technology 10 or more years ago. (And even most PLC training delivered today does not focus on best practices that reduce downtime and reduce safety and liability risk.) Management doesn't know their people are not properly trained, therefore do not realize the true cost and the risk they are taking. (Even some of the maintenance and engineers do not realize they have not had proper training or at least need updated training for new advances in the technologies.)
With the Iran virus on SCADA software that allowed it access to the PLC that controlled the nuclear facility, a few more are becoming aware of the cost due to lack of 'Proper' training. But most still rely on those who figured out it on their own, learned in school with outdated equipment and books, or just took a vendor's sales/'training' course.
The industry even has an unspoken reputation of not realizing the cost of not training, until after the damage to man and/or machine has occurred. And most do not even realize 'proper' PLC training is directly proportional to reduction in downtime. Or at least how significantly the training reduces downtime cost.
Don (Follow me on Industrial Skills Training Blog and on Twitter @IndTraining .) Be sure to add me to your Google+ circles to stay on top!