5 Ways To Boost Your Onboarding Training ROI With A Training Tracking Software
There are lots of ways you can use your training tracking software, and one of them is tracking your onboarding training ROI. Tracking this will enable you to see where you could be boosting it in order to ensure the best ROI possible.
Let's take a look at some of the main ways you can track and, hopefully, boost your onboarding training ROI below!
1. Track Your Training Costs
When it comes to onboarding training ROI, you obviously want to keep an eye on how much you are spending on your training for your team. Training tracking software can make this easy to do, as not only can you assign costs for all the training courses you have booked, but you can also keep track of all the associated costs, which you will also need to take into consideration.
Here are all the training-related costs you need to start tracking in order to get a full picture of your training ROI:
- Cost of instructors for classroom-based sessions
- Cost of access to eLearning courses
- Cost of printing resources you need to provide
- Cost of travel to training sessions
- Cost of meals provided during training sessions
You can also use your training tracking software to compare how much you spend on classroom-based sessions versus how much you spend on eLearning. This will allow you to see which is more cost-effective, and if that type of training proves to be the most popular with your staff, you may want to look at swapping more of your training over to that delivery method in order to both save money and keep your team happy.
2. Track How Much Time Your Team Spends On Training
After cost, the next thing you want to think about is how much time your team spends on internal training. This is important because you want to know how much time they are spending away from their day-to-day jobs in order to complete the training, and whether this time is being spent in the best way possible. For example, staff could be learning the same information from a three-hour long eLearning course as they do in a day-long classroom-based training session. Knowing where you could make the swap could save you money and lots of time, and ensure your team are trained on a new skill much quicker!
- How much time have you scheduled for classroom-based sessions?
- How much time do team members spend away from their job (including travelling etc.)?
- How much time should eLearning courses take to complete?
- How long are eLearning courses actually taking to complete?
- Do staff have to spend additional time on studying/homework at work?
- Do they need to spend additional time on assessments?
3. Track If Further Training Was Needed
Another thing you will want to think about is whether your training sessions were successful the first time around or whether your staff needed to complete further training in this topic in the future.
If training wasn’t effective the first time around, it’s important to know this and look at how the training can be improved in the future. Perhaps, you need to rework your content or look to hire a different third-party training provider to ensure staff receive the best training the first time around, as there's no point in wasting money and time running the same training sessions multiple times for the same staff members.
4. Track eLearning Time Vs. Classroom-Based Time
As we mentioned above, it’s a good idea to compare the amount of time your team spend in classroom-based sessions with the time they spend on eLearning. Chances are classroom-based sessions will have a set time on how long they will last, whereas eLearning depends on how quickly a team member can work through the content, and how much understanding they have of the material.
Using training tracking software to look at how much time people spend on the different delivery methods may show you where you could make a change and ensure that your business saves time when it comes to internal training.
5. Track Active eLearning Participants
When it comes to time spent on eLearning, it’s important to track how much time your staff spent being actively engaged with the content. Don’t mistake all the time they have the Learning Management System open on their computer for the amount of time it actually took them to complete the course.
Instead, look at the time they spent actively working on the course, such as watching videos or completing assessments to give you a clear picture of how much time was spent on each course. This will make it easier for you to work out the ROI of these training courses and it will also give you more accurate data when it comes to comparing eLearning against other delivery methods.
