Measuring ROI of Training

  • Duration: 2 days
Categories:

An increasing organizational requirement on measuring Return On Investment (ROI) of training mandates training and development professionals to improve their knowledge and skills in developing effective ROI evaluations. This course explores current practices of measuring and evaluating training programs through the ROI process model, and focuses on data collection at various training intervals, isolating strategies for the effects of training and calculating monetary values.

Course Methodology

The course is delivered in a highly practical and application-oriented approach. The classroom practicality is coupled with rich tools, templates, and checklists that can be adapted for use within participants’ organizations.

Course Objectives

By the end of the course, participants will be able to:

  • Measure the impact of training on more than one level of evaluation
  • Identify methods used to collect data during and after training programs
  • Demonstrate appropriate methods in isolating the effects of training
  • Tabulate monetary values of training in terms of benefits and costs
  • Calculate and interpret return on investment of training

Target Audience

Training and development professionals, human resources partners and anyone who is involved with measuring the impact of training within an organization.

Target Competencies

  • Deciding and initiating action
  • Persuading and influencing
  • Presenting and communicating
  • Analytical thinking
  • Applying expertise and technology
  • Planning and organizing

Course Outline

  • Introduction to training evaluation
    • Training evaluation: meaning and purpose
    • Benefits of training
      • Tangible benefits
      • Intangible benefits
    • A framework for evaluation
    • Evaluation levels and chain of impact
    • The ROI model and process
    • Common formulas
      • Benefit-cost ratio (BCR)
      • Return on investment (ROI) formula
    • Barriers to ROI implementation
    • Criteria for an effective ROI process
  • Data collection at various intervals
    • During training courses
      • Objectives the foundation of measurement
      • Measuring reaction and satisfaction
      • Measuring learning
    • After training courses
      • Questionnaires and surveys
      • Interviews and focus groups
      • On-the-job observations
      • Performance data
      • Action planning and follow-up assignments
  • Isolating the effects of training
    • Potential causes of improved productivity
    • Methods and techniques
      • Control groups
      • Trend line analysis and forecasting
      • Stakeholder estimates
  • Converting training results into monetary values
    • Benefits in monetary terms
      • Hard and soft data
      • General steps to convert data
      • Monetary savings in quality and time
    • Training program costs
      • Major cost categories
      • Fully loaded approach
    • Calculating ROI and reporting findings
      • Workshop: calculations and interpretations
      • Suggested training ROI report outline
  • Case studies: Implementation in organizations
    • Case study 1: evaluating a safety training program
    • Case study 2: evaluating a leadership training program
    • Case study 3: evaluating a soft skills training program

Price

$150.00

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