Increasing the ROI of Your Corporate Training
Now that we’ve looked at what drives training decisions in the majority of companies, it’s time to look at those elite organizations that regard training as the fuel that powers their successful:
- New product and service introductions
- Market penetration and expansion
- Revenue and profit growth
While these powerhouse companies are diverse in terms of their size, market sector and product offerings, what they do have in common is that they offer their employees TEN TIMES MORE TRAINING than other organizations. They also have structures that support their high levels of training by continually measuring and testing employee competencies. These structures track for positive changes and typically show a learning curve that begins with a 5% performance increase which over time climbs to 57%.
That’s more than a 200% increase in employee productivity!
Elite organizations think of performance enhancement tracking as the opposite sides of their training coin. They are the yin and yang of corporate training, because the increased performance measurement is the return an organization gets (ROI) on its training investment. A high ROI warrants additional training expenditures, and when the returns are assessed and found positive, additional training will be justified.
You can see how an organization that has invested years in tracking and measuring the impact of its corporate training initiatives will have a highly accurate and reliable formula that enables them to get the most out of their people. The best organization can also slice and dice their formulas to effectively prescribe the exact training that will most positively impact a certain type of manager or executive.
Companies that are considered to have “the best of the best” training programs also take the compositions of their teams, departments and divisions into consideration when they are assigning training programs, to get the best collective results.
Given the logic of matching training programs to the measurement of positive performance change, why don’t more organizations do both? Why do some happily go for the yin and totally ignore the yang? This seems on the surface to be a resource or budget issue, but is more often a result of poor or short sighted leadership.
Most firms put their efforts into keeping the “businesses ball in play” and scoring on the competition.
It’s the rare companies blessed with confident and visionary leaders that give equal attention to the score of the game in play and the performance potential of their players.
The obvious benefits to this “train then measure performance increases” model inspired Miboso to offer an ongoing support program to clients who have completed our Authentic Personal Branding Program. It’s also what’s behind the creation of our monthly community gatherings. The general Miboso community serves people who are currently developing their Authentic Personal Brands, as well as those who are considering doing so. Miboso’s second Authentic Personal Brand community serves Program Graduates, specifically those top performers who want to stay at the top of their game by keeping their actions, Authentic Personal Brands and vision aligned.
To participate in a Miboso Authentic Personal Brand community gathering, e-mail firstname.lastname@example.org to request your guest pass and schedule of upcoming events.