In the agricultural and industrial economies, companies needed “hard” workers, however the New Economy is putting a premium on “smart” workers. The explosion of knowledge, technology and the shortage of skilled workers have spawned an abundance of books and articles on the topics of lifelong learning, knowledge capital, and intellectual capital. Accountability is a key issue for Human Resources as well as other business units. Consequently, the idea of being able to calculate the return on investment (ROI) of training is enticing. An absolute number in a neat package would be a trainer’s dream! In some cases, it can be obtained. In other cases, while seductive, it may not be worth the effort.
The more money a company spends on employee training, the greater the concern that these highly skilled people will leave and take their knowledge somewhere else. This results in a loss of knowledge and a poor return on the organisation’s investment in training. However, research has shown that training actually reduces employee turnover and employee absenteeism. Employees will stay where they can grow and develop.
By end of this workshop you will be able to lean how to:
Learn the building blocks of Measuring the ROI of Learning Interventions.
Learn how to use ROI tools and when to make use of them.
Make better decision on intervention budgets.
Allocate training into interventions that are relevant and delivers results to the business.
Blend the various methods of learning sales such as theory, practice and application of the knowledge on the learner’s day to day job.