Making the decision to invest in a new skilling technology holds significant weight for any organization. Similar to other crucial purchases, garnering support from decision-makers poses a challenge. So, how can you sway their opinion?
As a learning and development (L&D) professional, you might be exploring the potential advantages of implementing new skilling software within your company. However, it appears that your boss isn't entirely enthusiastic about the concept. Persuading executives at the senior level, particularly in the realm of adopting new software, can be a formidable undertaking. If your company already operates a traditional training program for learning new skills, your team lead or department head may question the necessity of integrating a new technology.
Here we have outlined how you can put together a strong and compelling business case for investment in skilling technology.
Creating a business case for skilling technology investment can be challenging due to various factors. Here are some common challenges:
To tackle these challenges, it is essential to develop a thorough and meticulously organized business case. This proposal should highlight the strategic significance, concrete advantages, and how the suggested skilling technology aligns with the overarching goals of the organization.
Obtaining backing from stakeholders is crucial in this undertaking. According to a study, 19% of L&D practitioners face challenges in gaining approval or support from leadership for their initiatives, leading to obstacles in employees’ skill development. These steps will help you in preparing a robust business case:
Identifying stakeholders is vital, including decision-makers like senior leaders, HR leaders, managers, administrators, designers, subject matter experts, technical support, and end users. While many stakeholders may already recognize the importance of skilling software, some may need clarification on its benefits. Demonstrating these advantages can help them understand why endorsing the technology is essential for the organization.
To increase chances of stakeholder support, ask yourself a key question: What challenges are stakeholders facing that skilling technology could address? Initiate productive discussions to understand specific issues your stakeholders want a new skilling technology to tackle. Whether it's inflexibility, administrative hassles, or time constraints, identifying precise pain points can garner their support.
Skilling technology isn't just for organizing employee learning; it offers additional benefits. Highlight its capacity to monitor employee engagement and generate detailed reports. Using these insights, stakeholders can make informed decisions.
Disprz provides an intuitive analytics dashboard to identify employees’ skill gaps to deliver targeted learning. You can track the training and development needs of your employees by having complete visibility into learning analytics.
Figure 1: Analytics to Identify Skill Gap
Inform your leaders that skilling software aligns with broader business goals. A skilled workforce is more adept at handling evolving job requirements, leading to increased organizational productivity and efficiency.
Build and showcase a skilling technology implementation plan:
When crafting a business case for learning and development, ensure each component contributes significantly to building a compelling argument. Incorporate the elements below to thoroughly cover all aspects and dispel any potential doubts.
Finally, inform the leadership how skilling technology aligns with broader business goals to garner support.
Implementing modern skilling technology is an effective means of training and empowering your workforce. Skilling technologies contribute to reducing attrition, supporting business growth, enhancing new-hire performance, and preparing teams for upcoming projects. However, it's crucial to build a compelling business case to secure support and funding from decision-makers. Initiating conversations about employee upskilling and reskilling is not just necessary but a strategic imperative for today's workforce.
Recognizing the value of improved skills in project readiness and business competitiveness allows organizations to pave the way for higher ROI. Embark on a journey of continual improvement through ongoing dialogue, thoughtful analysis, and proactive upskilling programs to keep your business ahead of the curve.
Download the purple paper now to get detailed insights on creating a compelling business case for investment in skilling technology. Discover key tips, cost saving advice, and ROI analysis examples to build a successful business case.
Rahul is the Senior Manager of Content Marketing at Disprz, with around 14 years of experience in content marketing and IT research. He is an alumnus of Gartner, Fiserv, and Indian Institute of Technology (IIT) - Roorkee. Rahul enjoys crafting content on the latest industry trends and insights that contribute to informed decision-making.
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