How to find ROI in your Learning and Development Program
By Glyn Luckett Maru/Matchbox | February 2023
Due to inflationary pressures in the global economy, budgets and spending has come under scrutiny in many organizations. One area where spending is likely to come under pressure is learning & development training (L&D).
Learning at all levels of the organization sets the foundation for success in many ways, including retaining top talent, increasing employee satisfaction in the workplace, and better customer service. A 2019 LinkedIn workforce learning program reveals 94% of employees say they would stay at a company longer if it invested in their learning and development.
This begs the question; how can organizations evaluate their L&D programs and provide the reassurance to continue investing time and resources into their employee’s growth?
However, there is more to evaluating the effectiveness of an L&D program than meets the eye. Understanding skill gaps, career frameworks, and learner styles need to be considered. Organizations ideally want to ensure that the skills learned in L&D programs translate into their profession. Additionally, organizations looking to get the most out of their L&D programs need a comprehensive measurement process.
L&D analytics doesn’t have to be complicated and can start with simple measures that support learning goals and capturing feedback.
To demonstrate, Maru undertook surveys amongst 600 UK employees who had engaged in learning the month before this survey.
The results indicate that 77% of learners would take part in more training if their preferred learning method was offered, whereas 35% also indicated they would need support to transfer their new skills into their work. These findings demonstrate that flexibility in the type of learning by a person impacts an employee’s willingness to learn, as well as a need from managers to connect training to real-life situations.
When asked about the course material, 14% of learners felt their learning was not appropriate for their skillset. When asked if training met the needs of their role, 52% indicated the training they completed addressed the needs of their role, 42% partially addressed their needs, and 6% indicated the training they undertook didn’t address their needs at all.
Although 34% of respondents were not motivated to pursue further learning, 36% of respondents said the training improved their performance.
Collecting, analyzing, and delivering deep insights about your L&D programs is important to determine what works best for your employees’ and organizations’ development goals.
When evaluating your L&D program take into consideration the following key activities:
1. Understanding your employee’s learning and development needs and desires:
Using a combination of behavioral science and traditional techniques and methodologies to understand learners and how well they emotionally connect with learning.
2. Pre- and post-learning surveys
Provide self or assisted service survey tools, analysis, and reporting through our fully flexible proprietary software, Maru/HUB.
3. Impact studies
Measure how L&D programs are changing your business internally and externally.
Our team will be delighted to discuss your needs, please contact us here.