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The use of virtual reality as a safety training technology is gaining attention in the construction industry. While current studies focus mainly on the development of VR-based safety training programs, studies focusing on improving its effectiveness is still lacking. Thus, this study aims to understand the psychological process of training transfer and determine the factors that affect VR safety training effectiveness. The study analysed survey data from 248 construction workers who finished construction safety training using VR using PLS-SEM. The results show that the telepresence experienced through the VR and the risk perception of the trainees regarding occupational accidents significantly affect their satisfaction with VR safety training, which affected its effectiveness. Considering that the use of VR in the construction safety training context is still in its early stages, the results of our study, which comprehensively analyses both the technological and psychological aspects of VR safety training, could provide meaningful implications to VR training content developers. Furthermore, the theoretical approach of our study could be implemented in future studies focusing on the topic of training effectiveness.