Training must provide a good return on investment, everybody’s doing it from companies investing in their employees to employees investing in their future! However, I generally find that organisations often don’t evaluate the return on investment from training, perhaps they see it as too difficult? But the question must be asked by the rational business manager. If training doesn’t bring about a tangible return on investment for the organisation, then why do it?
Personally, I think the issue is more that it’s not always easy to quantify and measure the benefits from training. All the more reason then, that when training is being planned, that consideration ought to be given to what the expected ROI is likely to be and how it ought to be measured.
The revised Kirkpatrick’s Model provides a good starting point for measuring the return on investment from training. It gets us thinking about learning outcomes, productivity outcomes and financial outcomes. The logic is, that with enhanced knowledge and skill sets one should expect a lift in employee morale and motivation, productivity and a flow on effect to the bottom line.
How well do you measure the return on investment from training? If you’d like some assistance in doing so, or wish to continue the discussion, don’t hesitate to contact me.