However, in today's climate, knowing the return on investment of your training programs is a necessity. With tightening budgets and a need to focus on sustainability and growth, the C-suite wants justification and assurance for every single project being delivered. And, by having an in-depth understanding of an influential metric like ROI, you have a secret weapon; you can demonstrate how impactful your team's training efforts really are.
At LearnUpon, we want to help you, as a training leader, to unlock ROI. We want to demystify the process and eliminate the disconnect between the training being done, and its actual success. Most importantly, we want to alter the perception of training so it's seen for what it really is - a core part of the business's growth engine.
Part report, part guide, in this holistic eBook, we will share insights from over 80 training professionals on why they believe their businesses struggle to analyze training success. We're also providing you with the tools you need to start accurately measuring the most powerful metric in your arsenal - return on investment.
About This Report
TRAINING AUDIENCE - NOTE: Who are you training? If you're responsible for training different audiences with different goals, outline what training audience's program you're measuring from the get-go.
TRAINING TYPE - NOTE: What training are you providing that is helping your team reach its goals?
PRIMARY GOAL - NOTE: Record your primary goal. To make it as tangible as possible record it in monetary value when possible.
METRIC TO MEASURE - NOTE: Now is the time to start measuring.
PRE-TRAINING PROGRAM LAUNCH - NOTE: If possible, take the results from your pre-training program launch or the last results before you started measuring. This can be used as your comparison number to calculate ROI.
POST-TRAINING LAUNCH - NOTE: What are your current results? What is the impact of your training? Put this figure here.
CONVERT % TO REVENUE NUMBER - NOTE: Time to convert % to a number by analysing the cost saved or revenue generated from the posttraining launch.
TRAINING PROGRAM COST - NOTE: Collect all your training costs - content, trainers, resources, LMS - and add them together to calculate the cost of your training program.
ROI CALCULATION - NOTE: Use this simple equation! Take your costsaved/revenue generated number and subtract the cost of your training program
REVENUE FROM TRAINING PROGRAM - NOTE: That's it! That's the return on investment of your training programs.
Published by LearnUpon