44
Assessing ROI
Feature
number conclusion that states unarguably analysis has taken place that any measures and never claiming for an outcome that
that the training was worthwhile or not. that can be given a monetary value should, can’t be evidenced is critical if your results
This sort of calculation is possible with (in the cases where it’s relevant), be fed reporting is to be taken seriously by your
projects if the correct method is used, into the true ROI calculation. peers and seniors.
but even the strongest proponents of this
practice estimate that traditional ROI is Jane Massy CEO of abdi ltd, the ROI “Throughout the UK, companies in
practical for less than ten per cent of all Institute’s partner in the UK, says good both the private and public sectors,
L&D. Therefore, the most significant part measurement not only supports real global as well as local, are learning to
of the assessment process can be the steps apply high standards of investment
prior to this cold calculation. planning and measurement in learning
“The real impact of
and development, and reporting robust,
Key to the post training assessment is to credible business impact and ROI data.
establish a baseline – the benchmark from
learning should be
They recognise that it isn’t a quick fix,
which the improvement will be measured.
measured following
one-off defensive response to justify
So at the very moment after you think: budgets but a mature, professional
“Our advisers really need to improve
the course [end] –
practice that anyone investing in learning
on their sales skills,” then you need to and development should expect today.“
consider the objectives of the learning and
through the
how you are going to measure progress
behavioural changes
As the learning and development
from today’s baseline. decision maker, taking the assessment
employees adopt in of the return on investment seriously
There will be hard and soft measures for
their work”
and devising a plan to undertake
many objectives and different ways to the assessment can actually increase
capture the baseline data; questionnaires, employees’ engagement with learning
tests, observation, experts’ input and and improve the return. Going further
personal performance measurements might accountability for learning investment into the value is not just about satisfying
be among them. The point will be to devise a decisions, “but it helps us build really the top brass that it is all worthwhile; it
method of capturing what is happening now strong data from which we can make more can actually be the catalyst to a better
that will stand up to scrutiny and can be held accurate and better directed decisions in response to the learning itself.
alongside what will happen in the future. the future”.
Embedding the ongoing assessment “If all those responsible for spending
process into the plan and ensuring that it is on L&D are to be taken seriously by the
Sara Powell is Head of Training and
connected to the goals of the trainees and business, there must be a commitment
Professional Development at Fidelity
the business means that serious analysis to measurement all the way through
FundsNetwork. Fidelity International
of the impact is almost inescapable. If engagement, learning, application of new Limited and its subsidiary companies
the responsibility for data collection and skills, business impact and monetary value
serve the major markets of the world
examination is as important as the material – then to use this data at every level to drive
by providing investment products and
services to individuals and institutional
itself, the trainees and their management improvement and to leverage increased
investors outside the US. Sara is speaking
are bound to undertake the correct process. value from the investment.
at the World of Learning Conference on
And it’s the alignment of the firm’s and the ‘Evaluating and managing expectations
trainees’ interests that engages trainees “Along with accountability comes
of L&D’ on 20 November at 11:05 – 12:05.
and helps to ensure that the learning is not credibility; credibility is built on having
For more information or to pre
-
register
visit www.learnevents.com or call
forgotten the moment the course ends. robust methods of collection and rigorous
+44 (0)20 8394 5171.
It’s only once the data collection and but pragmatic analysis. Being conservative
learningmagazine.co.uk
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