How to calculate the costs of VPL?
Dr An De Coen
Case study by the Flemish government
The Flemish government strives for an integrated VPL policy across its departments. In doing so, particular attention has been drawn to the financing of the VPL procedure since a sustainable policy has to be financially sound. Therefore, by order of the Flemish government, IDEA Consult analysed the budget that is required to implement an integrated VPL procedure and the potential return at the level of the Flemish region as accurately as possible.
An De Coen was part of the team that monetarized the costs related to VPL. In her presentation she will discuss the main principles of the standard cost model that was used to calculate the costs. The results reveal how much time and money it takes on average to finance a VPL trajectory. The analysis shows the required investments for both participants and providers as both parties have to perform different actions when going through the process from start to finish. Moreover, by using the standard cost model, the costs are visible for each stage in the VPL procedure. This detailed approach shows which actions require the largest investments and to what extent efficiency gains could be obtained in order to organize VPL at a substantial scale.
About Dr An De CoenCountry
An De Coen is a senior researcher at IDEA Consult in the field of Labour Market and Socio-Economic Policy. After obtaining her Degree in Business Engineering at the KU Leuven in 2006, she obtained a PhD in Applied Economics in November 2012. In 2012, she joined IDEA Consult. Her main research interests focus on active labour market policies and factors contributing to individuals’ employability, like training and education.