Continue to Show Training Dollars as an Investment
Last month's article, Training…Is
It Worth It?, discussed the importance of solid numbers for return on investment
(ROI). Information was provided on how to calculate an ROI percentage according
to the training project needing to show value. However, it's important to note
that single consideration to ROI at the inception stages of an education or
training initiative to justify its value is not enough.
Think about a smart investor. That investor doesn't do all the research, make
the investment, and then never check the investment portfolio for success. Neither
should those in charge of staff training. It doesn't matter if the training
dollars are coming from a large or small budget. Ways to continuously look at
maximizing the return on the dollars spent must become a priority also.
Some items to take into consideration when trying to increase the ROI numbers
- Choose programs that have defined objectives that are in line with the needs
and goals of your employees and organization. Once a training program is selected
or created, take the time to prep the staff for that training. This is often
the most neglected, but probably the most effective means for continuing to
increase ROI. Preparing employees ahead of training, with the purpose and
objectives, ensures that staff is tuned in and thinking about ways to apply
the new skills after the training is completed.
- Have employees target their training expectations. For example: What do
they hope to get out of the training? What skills do they want to specifically
learn? What information or answers to questions do they want to find?
- In the case of off-site training, have employees recycle what they learned.
For example: Route printed materials received, make presentations of information
learned to fellow employees at a staff meeting or during a brown-bag lunch
- After training is completed, follow up with the employee. Ask them to discuss
what was learned. Discover how information learned applies to their job or
cause them to do a job or procedure differently. Discuss what the plan of
action for applying the new skill(s) will be. The most important question
asked should be: Do you need any extra help applying the information learned
to your daily tasks?
Avoid putting your staff in a situation where their newly acquired skills aren't
being reinforced. A staff member's training and practical application is not
the sole responsibility of the trainer. It takes the help of managers, supervisors,
or other experienced colleagues to make sure this happens. It is not acceptable
to hear the following…"We don't have time, so just get the work done."
or "That's alright for the classroom, but we do it this way." Make
sure that your organization doesn't become part of the statistic that estimates
20-30% of training received isn't being used on the job a month later.
Give training time to materialize its benefits. Often times ROI may not be
measurable and evident in a month or two. Know what you are looking for and
be patient with your expectations. Once you understand the factors that influence
training cost and its effectiveness, then you can raise your ROI.
MyDAS, Inc., a Liberty company, is a full service consultation firm providing
solutions for staff and member education, MySTERY Shopping and other research
and survey solutions, as well as full marketing agency services. Serving the
industry for over 20 years, find out why the best and the brightest select MyDAS
for results. For more information, visit www.mydas.com,
or call us at 800-291-6117.