The ROI of Learning
Training is conducted with a mentality that the overall benefits will outweigh the initial cost. This makes it necessary for any organization to measure return on investment (ROI). Anemic Economic times have also contributed to the necessity of ROI in the companies.
Post feedback provides a leeway in conducting a survey about the effectiveness of a given training. According to the Association of Talent Development, 90% of companies conduct the survey so as to measure learning ROI.
Besides conducting a survey, there are various ways that you can measure the ROI of learning. Most of these methods are within your control hence giving you reliable data. Below are ways you can measure the ROI of learning:
How to measure ROI of learning
Ask questions before the training commences
You need to involve the learner right before you start the training. The survey is crucial since the learner needs to know what to expect after the training is over. Through conducting this research you are able to capture their thoughts and expectations. You can then use this data during the session to increase motivation and engagement.
Measure what learners do
Action speaks louder than words. Learners can brag about how they were attentive and engaged during the training session, but research shows the opposite. Always measure their demonstrated engagement. You can use programs such as Poll Everyone. It enables the trainer to post questions to the learner and they are able to answer in real time.
You can later use the results to measure who was engaged from who was not. Such information will also provide you with the training value. You can go an extra mile and generate reports which can be shared with the company’s management to measure the ROI of learning.
Calculate ROI continuously
Most companies will conduct ROI of learning once in a year. Information gathered from this process might not be helpful to measure the effectiveness of the training. The training program might be in the red hampering any room for improvement. You need to incorporate ROI of learning in the course to provide you with constant and relevant feedback about the effectiveness of the training.
Build the case of ROI step by step
Producing a single ROI of learning number does not show the credible business value of the course, it only shows how much value. It is beneficial to the company to provide data that shows how and where the training adds value. You can do this by calculating the percentage of improvement of the company since the start of the training.
Let learners make a commitment
Let learners make a commitment on what action they will take or which changes they will make in their job. Such simple commitments contribute to the overall impact of the training and bring about behavioral change. Keep reminding them of their commitments once in a month.
Generally, companies understand that training adds value. But how much value can only be proved by measuring the ROI of learning. You can use the above tips and others to provide concrete data on the ROI of learning.