Today’s competitive job market has made it more important than ever for companies to invest in employee training and upskilling programs. This is a requirement to stay competitive while benefiting from better overall job performance and higher retention and engagement rates.
To maximize ROI, it’s critical to continuously measure learning analytics to determine your training program’s level of effectiveness, value, and impact. This will ensure you are reaping full benefits for your efforts.
Leveraging learning analytics helps you track learning progress and links it back to the business impacts. These analytics also provide insights on predictive crucial trends like attrition and the time and resources spent on training versus the return on investment.
Leveraging learning analytics to measure employee training effectiveness and ROI is essential in ensuring you’re not wasting or misusing resources with a lackluster training program. The collection of learning-related data and monitoring of your learning analytics provides valuable visibility into the effectiveness, relevance, and responsiveness of your employee training program. This also measures how this program is impacting your learners and the learning environment itself.
Measuring learning analytics allows you to optimize your training program using data-driven insights to improve performance outcomes, cost effectiveness, and ROI.
When measuring learning analytics to determine ROI of employee training, you’ll want to gather following types of data to answer any questions you might have:
Learning analytics allow you to quantify the value and impact of training on employee performance, team performance, engagement, retention, and business results versus the cost of time and resources being invested. Here are 3 steps to ensure you are taking the right approach when using learning analytics to measure training effectiveness and ROI:
The first step is to set the objectives of your employee training program and learning analytics initiatives, making sure they’re in line with business goals and creating a plan to meet them. It’s important to ensure that these objectives align with your overall business goals.
It’s important to be precise and intentional with data collection. It can be tempting to take a more is better approach, collecting as much data as possible, but this may leave you with more questions than answers. Remember that when measuring data for your employee training program, quality trumps quantity.
Purposefully collecting relevant data surrounding this will make sure you can properly evaluate. 4 learning metrics to consider collecting are:
Leveraging technology for learning analytics makes collecting, analyzing, and tracking key data quicker and more efficient. It allows you to instantly create customized reports on things like employee training progress, drop off, pass rate, or time spent training, to name a few.
These reports help you identify patterns that can be used to uncover which portions of training are going well and which need work.
An AI-powered learning experience platform provides you with a unified view of the diverse learning metrics that matter when determining L&D ROI. It allows you to track key insights and data quickly as well as to spot patterns and get a deeper understanding of why portions of your training program need improvement. This is done through:
A quality employee training program is a key factor in attracting, engaging, and retaining top talent. It plays an enormous part in fostering high-performing teams who are able to achieve strategic goals.
Discover how Disprz can align learning and upskilling with your desired business outcomes.