Thursday, September 21, 2017

SHOWING THE VALUE OF TRAINING

March 31, 2012 by  
Filed under Industry News

When asked to produce evidence of the value of training, many learning professionals are challenged to produce a Return on Investment (ROI) financial report to justify the monies and employee time spent on a training initiative.

There are many ROI methods and software programs available, but it is nearly impossible to accurately assign monetary measures to all the multitude of factors that impact a learner’s performance, or the value of the acquisition of knowledge. Many times the measures used to determine ROI don’t really have a direct correlation to an employee’s change in behavior.

Perhaps the more rational way of showing the value of training is by observing its long-term effect. Since many stakeholders are involved in the learning initiative, many different outcomes are expected.

The “key” stakeholders involved in the development and success of a learning initiative are:

If the employee is able to produce more widgets, reduce the need for a repeat calls to the Help Desk, increase sales income, provide customer service satisfaction, does this not eventually turn into money?

It’s hard to assign a “price” to a person’s success, feeling of worth or achievement. True measure of learning initiative success is the return on expectations (ROE).

 

 

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