Dear Arpit,
To give suggestions on measuring the effectiveness of the development initiatives, you need to provide basic information like nature of your industry, qualification of these persons, length of service of these persons, the type of work these persons do, what type of work you want them to do in future, what is the level of their current performance, what is the gap in their performance etc.
In addition to this, your development initiative should have support of your organisation's culture as well. What type of organisation culture you have, how did you measure it?
Next thing is about strategic plan of your company as well. Does the development initiative fall within the purview of the strategic plan?
Unless you provide complete information, it would not be prudent to suggest anything. In my last post, I had given generic information.
Thanks,
Dinesh Divekar