Calculating the ROI of learning: is this the holy grail?
For years the ROI of learning has been seen as the holy grail of learning.
I’m often asked to help people with ROI and the evaluation of learning – my top priority is understand whether they are looking to measure the ROI or create the ROI.
It’s important to understand that you need different strategies for the 2 different angles.
To CREATE the ROI you need a transfer methodology and to MEASURE the ROI and evaluation strategy is best.
Numbers, metrics and analytics are becoming increasingly important to teams and are being requested frequently. It’s key to consider what numbers you need and what you are looking to demonstrate with them. For ROI it is clean cut!
The old adage ‘what isn’t measured isn’t managed’ is well known. For learning teams wanting to robustly demonstrate and share the value they contribute to an organisation, measurement of ROI is key. I stand firm with Jack and Patti Phillips in that seeking to measure ROI of every program is inappropriate, but for strategic initiatives it can be very beneficial.
And of course, Jack and Patti with their ROI Methodology are seen as the Gold standard in the field. I had the pleasure of collaborating with them both for our book Making Change Work, and they are both passionate experts in the field.
I was reflecting the other day that it must be 9 years since I did a one day pre conference workshop with them both in Orlando, and frequently use the model when I’m with clients reflecting on our projects.
Luckily for us in the southern hemisphere Patti is heading to New Zealand, hosted by our colleague Beryl Oldham to run an ROI certification open program in Auckland in May. If you’ve ever thought about investigating ROI further but feel travelling to the USA is too far – New Zealand of course is a hop away…
And for those further afield who want to combine a holiday with work I can highly recommend NZ as a fabulous travel destination too!
For more details and to register for the workshop with Patti click HERE.
I’m sure you won’t be disappointed in taking a deep dive in ROI and continuing to develop your expertise as a learning and development professional.