Optimize ROI from training programs
Article Type: How to … From: Strategic HR Review, Volume 12, Issue 4
Practical advice for HR professionals
Despite rigorous planning for training programs, many businesses often do not plan how they can make team learning and development programs efficient and thorough, to ensure a return on investment (ROI) and guarantee a more productive workforce.
Companies sometimes underestimate the value of what can be achieved through effective learning and development and many organizations do not optimize their training programs by following up after the program is complete. It is vital that senior members of organizations oversee the impact their learning and development programs have and how they are applied to everyday working. By fully involving themselves within constructive learning and development programs,companies will noticeably see a more effective workforce delivering improved results in a more cost effective manner and timescale.
Under-utilization of the key aspects of training programs often means that organizations are not able to see a return on their investment. The right training for employees can ensure a more communicative, industrious and motivated team, ultimately leading to increased company profit. Below are five simple ways for companies to ensure they receive a return on investment within their training programs.
Set measurable objectives
Each participant should have six clear measurable objectives. These should be split into two leadership development, two team development and two profit producing goals to meet as a result of the training program. These objectives should be revisited at regular intervals, allowing the employee to work towards manageable targets over a reasonable period of time. By revisiting these objectives regularly the employee can witness their own strengths and weaknesses, which will highlight the areas they need to pay more attention to,providing a more constructive form of development.
Apply strategic thinking
Organizations need to evaluate whether their training programs address the short and long term challenges within the business. Many firms provide quick responses to issues rather than pinpointing long term goals and creating strategic solutions to solve them. Training solutions that resolve long term issues will ultimately save the company time and money, creating a return on investment.
Build in time for behavioral change
It is vital that training programs are delivered over a substantial period of time. Short programs often do not give time to embed change into employees’behaviors which is important for long term success. Behaviors should be measured from the start of the training to demonstrate the success of the program. This method provides a clear way of seeing results and positive changes in work ethic of the employees throughout the training program.
Develop your team
Assess the areas where employees need help to be better at their roles. We regularly see employees taking on their own roles as well as the tasks of their colleagues due to variation in ability or unclear direction. Having a competent and developed team clear in their own responsibilities will result in in a more streamlined and efficient work place. This will also lead to a more streamlined work process reducing the time being spent on individual tasks. This alone will enable companies to witness a return on investment by the efficiency levels of their employees.
Give positive reinforcement
Communication is key within any company and results of training programs should be shared internally. Managers should give feedback and positive reinforcement directly to individuals and successes should be shared among teams to boost productivity. By regularly communicating within organizations, employees can understand their expectations. It is important that the team understands what has and has not been successful so team members know both their own and the company’s development needs.
Organizations must recognize the importance of well-delivered training and development programs that are accountable to ensure a return on investment.
Diane CoolicanBased at Redsky Learning.
About the authors
After gaining a degree in Politics from Lancaster University (1988), Diane Coolican joined a graduate retail scheme with BHS. After an initial commercial role, she specialized in HR and Learning and Development. She moved into a management development role within the NHS, before moving to River Island. She was then head hunted for the head of Learning and Development role in Arcadia. In 2000 Coolican set up her own consultancy business, and in 2004 went into partnership to launch Redsky Learning. In 2008 she became managing director and sole owner of Redsky. She has a Master’s degree in Leadership and Strategic Thinking. Diane Coolican can be contacted at: info@redskylearning.com
