The Costs and Benefits of a Comprehensive Induction Program

Abstract

Until now there have been no benefit-cost studies of mentoring programs for beginning teachers to provide legislators, educational administrators, and program leaders with the kind of economic information they need for informed decision making. In a benefit-cost analysis we estimate the financial benefits of a given course of action against the actual costs, and use the resulting balance to guide decision making. Costs are either one-time, or may be ongoing. Benefits are most often received over time. In its simple form, benefit-cost analysis is carried out using only actual financial costs and financial benefits. A more sophisticated approach attempts also to put a financial value on intangible costs and benefits, a process that can be highly subjective. In order to provide an estimate of the potential return on the investment in a comprehensive mentoring program for beginning teachers we collected actual cost data for the Santa Cruz New Teacher Project across all its local contexts,calculated the measured benefits, assigning them a monetary value where possible, and computed the net present value over five years. We looked at net benefits or costs from multiple perspectives: the state, the district, the school, the teacher, and the student. The total of all these represents the net benefit or cost to society.calculated the measured benefits, assigning them a monetary value where possible, and computed the net present value over five years. We looked at net benefits or costs from multiple perspectives: the state, the district, the school, the teacher, and the student. The total of all these represents the net benefit or cost to society