Can you prove the effectiveness of your training programs? That’s the sign off on Laura Paramoure’s email signature. Laura is CEO of eParamus. She puts that on her signature because she knows that the answer to that question matters. ROI is everything.
As 2013 approaches, chances are you’re making plans, creating budgets, forming goals…all the stuff you do at year end to prepare for the next year. Have you ever made a business investment without knowing what the return would be? Of course not. No profitable business does that.
You buy equipment, planning for it to help your business make money. You hire new employees, hoping they will make your business more efficient and productive, which in turn increases your profit. You plan a marketing campaign knowing it will generate a certain amount of revenue.
Capital expenses, human resources, marketing–everyone knows those are measurable investments. Why is training viewed any differently?
For far too long, businesses have treated training like undercooked spaghetti–“Let’s throw it against the wall and see if it sticks.” You send employees to training and just hope that it takes and proves useful back on the job. You don’t measure it because you think you can’t. Training has been viewed as some nebulous, immeasurable thing where you simply hope for the best.
It doesn’t have to be that way. In fact, it should NEVER be that way. You can measure the impact of training. You can set concrete results and outcomes and measure against those outcomes.
It’s not your fault. You and other business believe this because training companies don’t deliver. Yes, they can tell you if an employee completed training or even if they enjoyed it. What they don’t do is measure if the training was retained.
If you’re planning training for the new year and want to know exactly what the ROI is, we can help you. Our Business Impact 2.0 is proprietary software that aligns your company’s training goals and the methods used to achieve them.
Once training is complete, Business Impact 2.0 measures and analyzes the impact of the training. Measurable results of the impact on the student, job performance, and corporate strategy are clearly demonstrated with detailed reporting. After reviewing reports, managers can make informed decisions to fine-tune training or to note its success.
No other corporate training company offers the power of Business Impact 2.0. With this tool, your company can evaluate training impact on your business and provide specific ROI. You’ll see in hard dollars and cents the value of the training dollars you spend.
What are your training plans for 2013? If you knew you could measure ROI, would that change your training plans in any way? Tell us in the comments.
Contact eParamus if you need to measure the ROI of your training
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