There are many ways to tell if your training is working. People are doing their jobs better, satisfaction is up, business goals are being met and managers are happy. As a learning manager, you can usually group your results into two categories: the financial impact and the performance impact.
We’ve been writing about our CPTM course from last year and we’re drawing to a close! Lesson 9 discusses how to make sure your training is making an impact using performance metrics so you can accurately predict the financial impact your program has on your organizations bottom line. In short, are you helping to meet business goals?
Metrics can help reign in the amount of training you do. Volume-based metrics include things like number of participants trained, number of training days and how many courses you delivered. Financial-based metrics measure things like how much was spent per participant and per program and if revenue was earned via these programs. Value-based metrics measure your organizational improvement and your ROI (Return on Investment).
There are also costs associated with training departments; fixed costs are things like salaries or equipment costs, and variable costs are things like supplier costs, materials or facility rents. Measuring these toward your ROI or revenue is an important way to see the value in your program.
Another way check your performance impact without the dollar signs is to measure how your learners are performing. You can create programs where learners earn a badge, a certificate or some sort of internal credentials when they complete courses, or you can offer to allow them to take outside courses and earn external certifications, too.
To ensure internal programs are well-received and beneficial, pay attention to your KPIs! The Kirkpatrick Model for evaluating training has been a staple for a long time. You will get a create picture of how your learners are reacting to your training, how their knowledge is gained, how their behavior changes, and what the results are.
We wrote about KPIs here... read up on the four levels and how each is important in its own way.
Your training department can add a lot of value to a business and can help strategic business goals be met. A good way to make sure you are contributing in a positive way is to pay attention to your metrics, your value, your budget, and most importantly, you learners.
If Lesson 9 is the first post you’ve seen, read more about the other lessons we’ve learned here:
- Lesson 1 – CPTM
- Lesson 2 – CPTM
- Lesson 3 – CPTM
- Lesson 4 – CPTM
- Lesson 5 – CPTM
- Lesson 6 – CPTM
- Lesson 7 — CPTM
- Lesson 8 — CPTM
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