Any training you invest in should meet four key criteria and yet a lot of training paid for by businesses fails to fulfil all four.
Time and again two conversations occur in relation to training. The first typified by a business leader who spoke of a senior colleague in whom the organisation had invested tens of thousands of pounds “with no visible impact” on their performance. Then there is the conversation in that is familiar to every trainer in which a participant explains that, as interesting as all this is, the training won’t make any difference because they won’t be allowed to implement their learning.
Most training fulfils at least two of the following key criteria:
- Ticks a box to evidence the organisation does invest in training.
- Fulfils the organisations social responsibility to upskill the workforce.
- Improves the employees CV
Every training event fulfils the first of these criteria. As long as the training is of a sufficient quality it will largely fulfil the second and third criteria. At the very least the participants can record that they underwent the training. None of these criteria represent a good use of your precious training budget.
The real return on investment in training is found in the fourth key criteria.
- Measurably improves workplace performance
Not only does this fourth key criteria define the real value in investing in training it also significantly adds value to criteria 2 and 3. Here are 4 steps to achieving this fourth key criteria and realise a significantly higher return on investment from your training budget.
Step 1: Equip your team leaders to integrate learning
The single most common complaint in the training room is that participants won’t get a chance to implement their learning when they return to the workplace. The solution is simple but requires commitment.
Equip your team leaders so that they can work with employees before and after the training event to help them understand how best to integrate their learning. The art of enabling is a crucial skill for managers looking to get the best performance from their teams.
Step 2: be clear about desired training outcomes
Before commissioning a training provider get very clear on the difference you want the training to make in your business. Set some clear KPIs. If you can put a monetary value on the expected improved performance and understand how you will measure the extent to which this R.O.I. is realised.
Step 3: Allow for experimentation.
Every change, including the implementation of learning, causes a dip in performance. Be aware of the need to allow for that and equip your team leaders with the skills to reduce both the depth and length of this dip.
Step 4: Find training providers who will work with you to achieve your desired outcomes
Whether you are purchasing off-the-shelf or bespoke training it is important that you find training providers who understand what it takes for their training to add to your bottom line and whose approach to training is designed to achieve that outcome. Look for a training provider who will work with those being trained to help them understand how to use their new learning within their roles.
Follow these simple steps. Stop wasting your training budget and start measuring the R.O.I. on your training budget.