In the News: Measuring return on investment on training

As we all know, this question of measuring ROI on training is often asked but an incredibly tricky one that’s almost impossible to answer. I often pose the question “how capable do you think a workforce would be after an extended period of time with NO training?”. Most execs seem to agree that the answer is “not very!”.

We use a system we call SMART learning that uses a simple measurement to compare capability before and after training – this doesn’t provide a definitive $ return but shows clear positive change.

Here’s a fantastic article that offers an interesting view of the subject.

Have a great weekend!

Cheers, Sam

Return on Investment on Training Programs

I Want To Develop My People, But I Can’t Prove It’s Worth The Money’

By: Stephen J Meyer – Forbes Magazine – August 2014

Why would anybody spend a ton of money training employees if there’s no way to actually prove it works?

Many would answer, “I wouldn’t.” But that’s the wrong question.

Can you quantify the benefit of your elementary, middle or secondary school education? Probably not.

Would you say, “I’m not going to buy a six-figure education for my kid to go to college unless I can prove it’ll get her a six-figure job”? Not likely. Continue reading

In the News: Innovation is the key to a properous future

This morning I was reminded of an item on ABC radio about the way Australian companies can remain profitable in an increasingly competitive global market.

The unquestionable truth is that we simply cannot compete with countries like India and China when it comes to cost of manufacturing/production…indeed, we lost that race many years ago.

However, western countries/companies still (just) lead the field in terms of innovation, and if your product or service is one (or more) steps ahead of the competition from overseas, buyers will typically allow for the extra costs associated with production.

Continue reading

How do you engage people to train them in an important (but boring) topic?

How do you engage a group of people in an extremely important topic that they’ve heard a million times and think of as just plain dull? Virgin airlines in America have come up with this novel approach to making the topic of air travel safety engaging, fun, entertaining, and informative (Virgin Australia have done a similar thing here with some CGI animation but I have to say that it’s not nearly as engaging…quite dull and annoying in fact, which kind of defeats the point of it). Cheers, Sam