Measuring Return On Your Training Investment?
Today Organizations of all types value their investments. What’s new is the method that organizations can use to get there. Although showing return on investment may be the ultimate report of value, organization leaders recognize that value lies in the eye of the beholder; therefore, the method used to show return on investment must also show the value as perceived by all stakeholders. Just as important, organizations need a methodology that provides data to help improve investment decisions. At Everest Leadership Training we use an approach that does both for our clients; We evaluate the value that your organizations get from investing in learning and development programmers, and develop the right data to improve those programmers.
Value Redefined: The Value Shift
ROI represents the newest value statement. In the past, a learning programmer’s success was measured by activity: number of people involved, money spent, days
to complete. Little consideration was given to the benefits derived from these activities. Today the value definition has shifted: value is defined by results versus activity. More frequently, value is defined as monetary benefits compared with costs, which is return-on- investment (ROI)
- Are you still using conventional selection methods for your training interventions?
- re your human capital development interventions aligned to your strategic business goals and objectives?
- How do you transfer learning back to the workplace for performance?
- Are you able to measure your return on training investment?
The Power of process
As you can see from above, in order to ensure long- term learning results, sustained growth and tangible business impact from this training intervention we are committed to process – orientated strategies, aligned to measurement levels(which provide your company with a basis for establishing Return on Investment). Our learning model is based on “Training for Results” instead of the traditional “Training for Events” approach. This approach means training programmers are viewed as events, which are enjoyed, where there is no significant transfer of skills to the work environment. This is due to the fact that training is not linked to business objectives and there is no support for the measurement of skills back in the work environment and that is why we believe in our “Training for Results” model.
Organizations support their training effort by supplying their time, sending their employees, providing budget, sustaining evaluation efforts, and supporting environmental change to enable new knowledge, skills, and attitudes (KSAs). Training providers spends significant resources to design, develop, and implement learning experiences., however, most providers credibility is at stake as they either have no tools or seeks to have tools that can new KSAs transfer to the job and demonstrate tangible, bottom-line results. So, it is in the best interest of both the client and the training organization to provide a level 4 analysis. This is where we assist our clients to achieve that.
✔ Learn what a level 4 evaluation is
✔ Know when to conduct a level 4 evaluation
✔ Get guidelines for conducting a level 4 evaluation
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