How Does the Budget Process Make You Feel?
- Does your stomach churn as you wonder if you’ll have to make deep cuts to your staff or resources?
- Is the training expense viewed as overhead and, in the minds of the top brass, expendable?
- Wouldn’t it be great if you didn’t have to struggle for every dime you receive?
Here’s the good news—I have the answer that will secure your training budget, solidify your expertise as a training professional, and make cutting the training budget the last thing your company execs want to do.
And the Answer Is…
Measurement. Pure and simple. You absolutely can compute the ROI on training, and show value in concrete dollar figures to your organization.
The biggest unanswered question organizations have about training is what results and value are they getting from the thousands of dollars spent each year. Businesses want this hard data from nearly every other department. They obviously would want the same data from training. But they do not get it and it’s this ambiguity that makes the training budget susceptible to cuts every year.
Training professionals tell them, and business owners agree, that training simply can’t be quantified like every other business function. That is complete nonsense, but training pros and business pros have been taught that this is true and both groups have bought into the myth.
There Are Exact Measures That Show Training Success
Current training theory talks a lot about identifying metrics, but very little on applying metrics to training. Lots of theory and little application is almost always a sign that people are making something too difficult. This is exactly where the training profession falters. Instead of trying to take metrics that are not causal to training fit the training outputs, our ROI by Design model works to identify both the causal and the correlating metrics. This identification means an organization can categorize the exact measures that will show training success, as well as the behaviors that impact the metric. Being able to pinpoint these measures is exactly how you measure success.
Business Responds to Results
Business will always come down to results. The ROI by Design methodology provides concrete proof of the results organizations are looking for from training. The ROI by Design methodology assists the training profession in showing their true value and in turn, helps secure the budgets necessary to allow training professionals to keep improving employee performance!
The answer is so obvious that it’s a shame more businesses don’t take advantage of it. Do you agree? Is budget time the worst time for your group? Would attaching a dollar value to training help you secure your budget? Do you agree or disagree? I’d love to know your thoughts.
Want to know how training ROI can secure your training budget? Contact eParamus.
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