"MY CEO only looks at numbers and graphs. How do we show the Return on Investment on our Management Development Training?"
RESEARCH & ANALYSIS
- A number of specific instances of value were added as a result of the Management Development Training Programme- showing the return on investment in training
- Difficulty in accessing real cost data for HR
- Low confidence in the handling of financial data and spreadsheets in HR and training departments
EXPERIENCE
- Winning support from the Finance Team is essential in demonstrating the return on investment in training
- A very simple payback approach is the best way to start
- A new approach to pre and post programme communication would be likely
- Clients will need support when they apply ROI models in practice
APPROACH
- Map the Organisational Strategies to Business Unit Objectives
- Engage Finance Department to gather cost data
- Map delegates' KPIs to Business Unit Objectives
- Value Organisational Objectives
- Create links between impact of training and KPIs
- Value change in performance against organisational objectives
- Link impact of training to Organisational Objectives
- Create spread sheet model to calculate return on investment
IMPACT
- KPI mapping identifies missing Objectives
- Increased confidence among training team
- Major change in relationship between training and line managers
- Strong Board support for process
- Re-designing of key programmes to focus on delivering change in KPI performance
ROLL OUT
- Business Objectives now held in one place in one format
- Spreadsheet ROI in training tools to be introduced across L&D team
- Three major programmes to be analysed for the return on investment in training including Management Development Training
- Board reports planned to show value added and the return on investment in training
FEEDBACK
- "The ROI in training gave us much more than we expected." HR Directo
- "Really changed our relationship with the rest of the business." Training Manager - Management Development Training Programme