Final answer:
The most comprehensive measure to show the effect of the investment in the change initiative at HR would be the return on investment (ROI), as it accounts for overall financial gains in relation to costs. Training return on investment is also relevant, albeit more specific to the training component, while human capital value added would reflect the overall financial value employees add after the initiative.
Step-by-step explanation:
To measure the effect of the investment in a change initiative focused on process redesign, reporting structure changes, training, and incentives to increase productivity, the most appropriate metric would be return on investment (ROI). ROI takes into account the financial gains (or losses) relative to the cost of the investment. In this context, the ROI would consider the increased productivity and any associated revenue gains against the cost of implementing the new processes, training personnel, and the expenses related to changing the reporting structures and offering incentives.
It is important to recognize that training return on investment can also be crucial in understanding the effectiveness of the training programs specifically. Factors such as employee performance improvement, efficiency gains, and the impact on productivity and profits would be assessed. However, since the question mentions multiple initiates beyond training, the broader ROI metric would provide a more holistic view of the initiative's success.
Last but not least, human capital value added is a metric that reflects the financial value employees add to the organization through their work after accounting for the cost of capital. This measure could show how the initiative has increased the productivity of the workforce. Improvements in this area would indicate a positive impact of the change initiative overall.