Introduction
Measuring training ROI return on investment can strategically impact an organization. Yet, many organizations need to learn or understand if they are receiving value for their investment in training.
This measuring and maximizing training ROI course is designed to demonstrate that training has a strategic role. The measuring and maximizing training ROI course will show how organizations can obtain more excellent value from their training investment, focusing on ROI in training and development.
Additional Insights into ROI for Training
Understanding what ROI is for training is crucial for any training endeavor. An ROI certification is often sought to formalize the ability to measure and enhance the impact of training programs.
Through this measuring and maximizing training ROI course, participants will not only comprehend ROI training principles. Still, they will also maximize the return on investment for every training initiative.
By adhering to best practices in measuring the ROI of training and development, this measuring and maximizing training ROI course guarantees that the investment made in human capital yields tangible and positive financial returns.
Targeted Groups
- Training managers.
- Training coordinators.
- Training administrators.
- Training staff.
- HR managers.
- HR staff.
Course Objectives
At the end of this maximizing and measuring training ROI course, the participants will be able to:
- Understand the issues related to measuring and maximizing training return on investment at both a strategic and operating level.
- Planned, organized, and delivered training programs and events relevant to and will contribute to attaining the organization's strategic objectives.
- Demonstrate and make the business case for specific training programs and events, and therefore, be able to justify training-related expenditure.
- Understand and be able to implement the techniques applicable to identifying and delivering relevant training needs.
- Describe best practices concerning employee development and contribute to achieving a competitive edge by improving employee retention rates.
- Monitor and review the effectiveness and impact of the training spend and, as a result, be able to apply measures to training-related processes.
Targeted Competencies
At the end of this maximizing and measuring training ROI course, the target competencies will be able to improve the following:
- Setting training investment at the strategic level and establishing its contribution to achieving strategic organizational objectives.
- Ensuring that proposed training programs are relevant and the business case is made for the planned expenditure.
- Learning techniques to monitor the impact of training in the workplace.
- Learning techniques to identify future training needs at the strategic, operating, and individual levels.
- Establishing that the maximum return on the training investment has been achieved.
Course Content
Unit 1: Overview of the Strategic Role of Training
- The strategic context of training.
- The business case for training investment.
- The principles of effective employee development.
- Training models and approaches.
- Establishing training needs.
- Evaluating training.
- Establishing appropriate processes for measuring training ROI.
- The role of senior managers, HR professionals, and line managers in measuring and maximizing the training ROI.
Unit 2: Aligning Training to Business Objectives - Maximizing Training ROI
- The organizational context.
- Business Strategy: the need for long-term planning for future skills and competencies and identifying skills gaps.
- Recognizing the training needed.
- Aligning training with business needs.
- Planning training.
- Delivering effective training.
- Maximizing training ROI.
Unit 3: Measuring Training Return on Investment (ROI)
- The arguments for and against measuring the cost and effectiveness of training.
- Making the business case.
- What and how to measure.
- Identifying the appropriate success criteria.
- Measuring the effectiveness of training.
- Forecasting costs.
- Forecasting benefits.
- Calculating the training ROI.
Unit 4: Managing the Training Process
- Identifying the appropriate approach to training.
- The roles and responsibilities of senior managers, HR professionals, line managers, and employees.
- Establishing training objectives at the strategic level.
- Identifying training objectives at the operating and individual levels.
- Maximizing ROI - preparing training budgets.
- Planning and Implementing training.
- Internal or external training provision.
- Determining how training will be evaluated.
Unit 5: Evaluating Training
- Evaluation models and approaches.
- Purpose of evaluation.
- Some myths about evaluation.
- Levels of evaluation.
- Evaluation methodologies.
- Linking evaluation to training ROI.
- Personal development planning.
