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Return on Investment On Training
1. “ Measuring The ROI In Training” Webinar Alyson Pellowe & Józefa Fawcett 6 th April 2011 - 8PM
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8. Learning Outcomes (outputs) Performance action Conditions / Context Standards level what the learner will be able to do back at work how well they should be able to do it under what circumstances they should perform and with what
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10. Jack Phillips The ratio of money gained or lost ... ...on an investment... ...relative to the amount of money invested. % ROI = (benefits/costs) x 100
11. Jack Phillips A course is run for 6 learners that costs £4000. Lets say that one delegate reduces their fortnightly team meeting of 8 people by 30 minutes as a result over the next 12 months Average employment costs, including overheads, are £50 per hour. This gives a saving of £200 per meeting, or £5200 in the first year. %ROI = (£5200/£4000 ) x 100 = 130%
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13. Pay It Back vs Pay It Forward Payback : Measuring the impact of L&D activity on variables like: turnover, profit, increase in sales, conversion of leads into sales (historic direct returns) Pay Forward : Assessing the ways in which an L&D investment is likely to make a real and positive difference to future organisational performance For more information about how to conduct evaluation and measure return on investment, contact me by email: [email_address]
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Editor's Notes
Four steps in systematic approach to training – starts with ITN, then from there, the design of the training intervention, the delivery of the training and then the evaluation of the training If there is no training need, then it questions the reason for a training intervention at all Biggest mistake made by many trainers is to focus on what they ‘think’ should be delivered or what the organisation ‘thinks’ should be delivered, this approach has a number of flaws, firstly, if it is based upon desires or ‘mandatory’ aspects, then it raises HUGE logistical issues for attendance and non-attendance as well as pushing the HR function and its L&D team into a monitoring / policing role. Secondly, if you don’t focus on actual needs, it becomes harder to measure impact and results (more about this later on) Worth remembering that ITN can focus on either personal development, team or organisational needs, and also be used to predict future needs based upon the analysis of trends and sustainability targets
Four steps in systematic approach to training – starts with ITN, then from there, the design of the training intervention, the delivery of the training and then the evaluation of the training If there is no training need, then it questions the reason for a training intervention at all Biggest mistake made by many trainers is to focus on what they ‘think’ should be delivered or what the organisation ‘thinks’ should be delivered, this approach has a number of flaws, firstly, if it is based upon desires or ‘mandatory’ aspects, then it raises HUGE logistical issues for attendance and non-attendance as well as pushing the HR function and its L&D team into a monitoring / policing role. Secondly, if you don’t focus on actual needs, it becomes harder to measure impact and results (more about this later on) Worth remembering that ITN can focus on either personal development, team or organisational needs, and also be used to predict future needs based upon the analysis of trends and sustainability targets
Mager’s work on instructional objectives still translates well to today’svaried forms of learning and development. \\It gives practical guidance on writing well formed learning objectives. http://www2.gsu.edu/~mstmbs/CrsTools/Magerobj.html
Four steps in systematic approach to training – starts with ITN, then from there, the design of the training intervention, the delivery of the training and then the evaluation of the training If there is no training need, then it questions the reason for a training intervention at all Biggest mistake made by many trainers is to focus on what they ‘think’ should be delivered or what the organisation ‘thinks’ should be delivered, this approach has a number of flaws, firstly, if it is based upon desires or ‘mandatory’ aspects, then it raises HUGE logistical issues for attendance and non-attendance as well as pushing the HR function and its L&D team into a monitoring / policing role. Secondly, if you don’t focus on actual needs, it becomes harder to measure impact and results (more about this later on) Worth remembering that ITN can focus on either personal development, team or organisational needs, and also be used to predict future needs based upon the analysis of trends and sustainability targets
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