Written by: William Ryan
More than the traditional ROI that focuses on hard, often technical training, a Return on Learning measures the broader cost of the problem. This cost may be people-based and identifying its fiscal impact on the organization against the cost of creating and delivering the learning solution is a valuable way to demonstrate the impact learning has on the bottom line. From attrition to leadership communication, you can measure learning solutions that affect performance, and they have a measurable monetary impact. There are hard dollars in measuring “soft” skills!
The first step to using learning strategically is to apply the same frame of reference your operational and leadership teams are using and apply them to the solution being implemented. The metrics that matter are the ones used by the client group, so use their data points to measure the impact learning has, especially around the behavioral skills we use in life to be successful. In this video, I share an example and a calculator you can use to show the value of different operational metrics that demonstrate the impact learning and performance solutions bring to the organization and the bottom line.
>> Learn more at the webinar: Measure Soft Skills to Show Your Return on Learning
Key business functions such as first call resolution, retention, leadership style, net promoter scores, upselling numbers – how are you helping the person be able to perform better using the behavioral life skills that impact the organization? To truly measure the ROI, start by focusing on the ROL. Use my favorite 4 letter word to start with – PLAN: Prior (to) Learning, Assess Now. Take ownership of the learning solution you are developing by first (prior to learning) gathering the current operational metrics (assess now) that you will be measuring against, so you can identify clearly to yourself and your client that the solution you put in place made a difference at the business level. Impacting performance on all levels creates value to the person and the process they are in, leading to success for everyone.