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How does your manager make a decision on whether to fund your training program? What tools do they use? How does your manager have to justify your training budget to his supervisor?
As budgets are tightened it is crucial that you can justify your training program budget. Otherwise your worthwhile training program may not get funded. Organizations want to be assured that your training programs are effective and they provide a Return On Investment (ROI) on money invested. Training Managers, Program Managers, Project Managers, and others responsible for training programs need to show how training contributes to the bottom line.
Learning about ROI allows you to:
- Build a business case for your training projects using the language of finance and management
- Drive accountability in your training process
- Allows you to prioritize your training needs
The last Learn @ Lunch in the series focused on the cost of E-learning (Investment). This Learn @ Lunch will focus on how to calculate the Return and thereby the ROI. We will discuss:
- Benefits of using ROI to measure training programs
- Measuring the Return on Investment of Training
- Model for calculating Training ROI
- How to collect data on performance?
- How to isolate the effects of training?
- Converting Tangible Indicators vs. Soft Data (Intangible) Indicators
- Calculating ROI
Speaker
Sanjay Nasta, CEO of MicroAssist, will discuss the use of E-Learning ROI to help justify your training programs. Mr. Nasta has been involved in the training industry for over 20 years. He is on the board of several companies. He is responsible for evaluating and recommending training programs to organizations and is frequently the decision maker at his organization who green-lights training programs.
by Chip and Dan Heath. In this book the authors teach you how to create sticky ideas by using the SUCCESs model:
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