Measuring The Return on Learning
Post pandemic, companies are investing huge rounds of money in L&D, but they are also keeping a close eye on how the training programs are benefiting them. This has put additional responsibility on L&D professionals. Tracking ROI with only participant feedback forms or smiley sheets is no longer enough. Upper management is asking for concrete evidence to justify the investment going into the learning programs.
And when the axe of cost-cutting is swayed, the budget of L&D programs is often slashed and sometimes they are even uprooted. This happens mostly with leadership development programs, where intangible skills such as developing a strong work ethic, having integrity, and being kind are focused. These development programs don’t give instant results, it takes time for the results to show up. And even if the company is satisfied with the result today, they might change their mind tomorrow.
No doubt L&D professionals are creating high-quality learning content that is helping companies to promote and retain their employees and even skyrocket the stock value, but evaluating ROI remains a continuous barrier.
To help L&D professionals to cross the barrier and measure the ROI of the learning and development program, this white paper:
- Briefs the Kirkpatrick model of evaluation Explains the Phillips ROI equation
- Discusses the challenges involved in evaluating the ROI of a learning program
- Provides solutions to challenges
- Shows how L&D professionals can apply the 80:20 rule to assess learning
