WOLCE 2016 - How to assess Return on Investment?
Learning and Development Practitioners: How to assess Return on Investment?
This is a recurring question for those of us involved in learning and development and a crucial one if we are to prove a quantifiable benefit. After all, if we can’t prove the value of something, should we actually be doing it?
What to measure?
It can be hard to determine what to measure, especially when there are multiple stakeholders to satisfy. Take our situation as an example. Sales training and development may seem a relatively simple scenario. We implement a sales training programme for a client and either the volume of sales goes up, the value of orders increases or the lead time goes down, but this is not the whole picture.
There are numbers everywhere for the commercials but what about the other factors important to success? Will our clients also consider economic conditions, competitor status, marketing campaigns, skills, internal and external relationships, and talent management for example?
There are always factors beyond our control which will influence outcomes of any learning and development initiative. As trainers and developers of commercial skills we need to concentrate on the things which:
- we can influence most
- we can measure, and
- have a validated impact on performance
Real world insights on how to assess return on investment
Urgo Medical will be sharing their practical application of a recent skills development initiative with Huthwaite International at the World of Learning Conference and Exhibition 2016. They’ll be sharing what they did, how they measured it and the pitfalls they avoided. Why not join us for fascinating and invaluable insights into good practice in action.
A measured approach – how to articulate value.
Conference Room 1