Measuring the RoI of Training

Measuring the ROI of Training

OBJECTIVES

• Measure the impact of training on more than one level of evaluation
• Identify methods used to collect data during and after training programs
• Demonstrate appropriate methods in isolating the effects of training
• Tabulate monetary values of training in terms of benefits and costs
• Calculate and interpret return on investment of training

WHO SHOULD ATTEND?

Training and development professionals, human resources partners and anyone who is involved with measuring the impact of training within an organization

COURSE OUTLINE

• Introduction to training evaluation
  • Training evaluation: meaning and purpose
  • Benefits of training
    • Tangible benefits
    • Intangible benefits
  • A framework for evaluation
  • Evaluation levels and chain of impact
  • The ROI model and process
  • Common formulas
    • Benefit cost ratio (BCR)
    • Return on investment (ROI) formula
  • Barriers to ROI implementation
  • Criteria for an effective ROI process

• Data collection at various intervals
  • During training courses
    • Objectives the foundation of measurement
    • Measuring reaction and satisfaction
    • Measuring learning
  • After training courses
    • Questionnaires and surveys
    • Interviews and focus groups
    • On-the-job observations
    • Performance data
    • Action planning and follow-up assignments
  • Isolating the effects of training
    • Potential causes of improved productivity
    • Methods and techniques
      • Control groups
      • Trend line analysis and forecasting
      • Stakeholder estimates

• Converting training results into monetary values

• Benefits in monetary terms
  • Hard and soft data
  • General steps to convert data
  • Monetary savings in quality and time
• Training program costs
  • Major cost categories
  • Fully loaded approach
• Calculating ROI and reporting findings
  • Workshop: calculations and interpretations
  • Suggested training ROI report outline