Measuring & Maximizing Training ROI

Introduction:

Training can have a strategic impact on an organization yet many organizations’ do not know or understand if they are receiving value for their investment in training. This course is designed to demonstrate that training has a strategic role and will demonstrate how organizations can obtain greater value from their investment in training

Targeted Groups:

• Training Managers
• Training Coordinators
• Training Administrators
• Training Staff
• HR Managers
• HR Staff

Course Objectives:

At the end of this 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.
• Plan, organize and deliver training programs and events which are relevant to and will contribute to the attainment of the organization’s strategic objectives.
• Demonstrate and be able to 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 therefore contribute to the achievement of 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:

• Setting training investment at the strategic level and establishing its contribution to the achievement of 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 level
• Being able to establish 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 return on investment (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 competences and the identification of skills gaps
• Identifying the training need
• 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 level
• 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