Showing the ROI of key programs on a budget

CLO Magazine

Budgets have been cut or are under scrutiny. Here are 7 ways to minimize resources and still show the value of a major program at the impact and ROI levels. It’s important for every member of the team to share the responsibilities for designing, developing and delivering impact and ROI. For example, a guiding principle in the ROI Methodology states, “When planning a higher- level evaluation, the previous level of evaluation is not required to be comprehensive.”

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Cloudy with a chance of budget approval

CLO Magazine

When there is uncertainty, anxiety or volatility in the global economy, there is a tendency to prepare for the unknown by having a tighter ship and leaner budget. This translates into significant budget controls and, consequently, budgets will be scrutinized and challenged.

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From higher ed to PepsiCo CLO

CLO Magazine

She learned about the external support structures, what learning formats and content types had the biggest impact, and how they planned and budgeted for these events. But in 2018 she got a call from a headhunter looking for PepsiCo’s new CLO, and it was too good of an offer to resist.

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Making the ask: securing a learning budget during economic hardship

CLO Magazine

Meeting these objectives often require resources both internally and externally — budget, learning content, time, personnel and leadership buy-in are also key components. When uncertainty is abundant but budget is not, tensions can multiply exponentially. Do we believe great training can provide an ROI? This project would provide one of the highest ROI of all of the options we have available at this time. Strategy budget business challenges learning budget

CLO Competencies: The Path for Future Learning Leaders

CLO Magazine

They agreed that the future CLO should have experience in: strategic management, general management, knowledge management, leadership skills, and learning methods and concepts. Another area that was considered important for the future CLO was knowledge of and experience with day-to-day general management activities such as business-case development, operational planning, financial planning, budget management, personnel management and ROI calculation.

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The CLO’s Critical Role: Nine Areas for Action

CLO Magazine

The previous Business Intelligence column presented an instrument designed to assess the extent to which the CLO and the learning enterprise add value to the organization. The 30-question instrument detailed specific areas that define this critical role of the CLO. If managers are willing to pay the fees, the CLO has provided a service that is competitive and desired by the organization. Perhaps the more recent role of the CLO is that of managing talent in the organization.

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The Essential Guide to Learning Analytics in the Age of Big Data

Lambda Solutions

Evaluating Learning Analytics and Measuring ROI. Data Points to Prove the ROI of Learning Analytics. Evaluating Learning Analytics and Measuring ROI. It’s the most recognized method of evaluating a training program’s ROI. Adding ROI to Kirkpatrick. And perhaps just as significant, he added a fifth level—Return on Investment (ROI). Maximizing ROI on Your Training Investment. Data Points to Prove the ROI of Learning Analytics.

Feed the Gorilla

CLO Magazine

The price of oil is causing uncertainty and reducing budgets in oil producing countries. This is a good time to reflect on how executives see the learning and development budget. Learning needs more budget not less. The gorilla is willing to listen to us if you have data that shows these programs delivered a positive ROI. You now have ROI on an executive agenda. Major projects or programs need financial ROI showing they were a good investment.

Takeaways from Learning 2017

Association eLearning

And, who knows, it may even help you get a bit more budget to work with in the long run if you can show that what you’re doing makes a difference. Return on investment (ROI) is one of the most commonly used metrics. I had no intention of going to the CLO Q&A session that was held during lunch each day. I recently got back from the Learning 2017 conference. Like last year, I want to share some of what I learned and experienced.

Predicting Learning Success

CLO Magazine

Phillips is president and CEO of the ROI Institute. Think about the logical chain of value from any learning program: level 1, reaction; level 2, learning; level 3, application; level 4, impact; and level 5, ROI. If it can predict level 4, it can predict level 5, the ROI, because the ROI calculation is based on improvements in the actual impact. An increasing number of executives and sponsors are requiring a forecast of impact or ROI before the program is implemented.

Do You Have a CEO-Friendly Scorecard?

CLO Magazine

Phillips is president and CEO of the ROI Institute. In 2010, the ROI Institute conducted a major study sponsored by the Association for Talent Development to understand the executive view of learning and development investments. 1 measure of L&D investments preferred by executives is business impact, followed by ROI. However, we know from our work with ATD, CLO and others that most major learning functions have some kind of scorecard. Jack J.

It’s time to update your evaluation strategy

CLO Magazine

The best way to survive and even thrive in the current economic downturn is to actually measure the impact and ROI of your major programs to ensure that these programs deliver the business results that executives and sponsors want and need. Increased ROI makes a great case for more funds.

Leadership development should begin with “why” — and that’s usually not behavior change

CLO Magazine

These measures could include increasing retention, meeting the budget or reducing team member complaints. Where do you want to end the evaluation as you move through the value chain from reaction to learning, application, impact and ROI?

Everything You Need to Know About Learning and Development Modernization

Infopro Learning

Modernize Programs Increase ROI and Engagement. Not only will this increase the ROI, but it will also help increase engagement by modernizing the look and feel of courses to match the changes in learner demographics. A portfolio of training programs represents a significant investment in company resources, including the annual training budgets of years past and the time and effort of training personnel, subject matter experts, and training vendors.

Get off-the-shelf e-learning courses at your fingertips

Docebo

I’d hate to see the look on a CLO’s face if they were told their learning program, the vacuum sucking up a bulk of their budget, is actually inhibiting productivity and revenue flow (big yikes).

How to Build a Business Case for Workforce Readiness Technology

Allego

As a CLO, VP, or training director, you know this kind of insight is essential to remain competitive. Instead of drowning in a sea of siloed information, you gain real-time insight into how learning tactics and content influence specific learners, so you can maximize your budget and create relevant and personalized experiences that drive results. Or even better, what if you could reallocate budget to high-performing efforts to boost revenue even higher? Readiness ROI.

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AI and L&D - OI VEI!

Nomadic Learning

That doesn't mean it doesn't have a critical role to play, but as we point out in our article Beyond the Classroom in CLO Magazine, applying AI in the right context and with the right data is critical to success. As a member of the learning and development field for the past 35 years, trust me, I’ve tried a lot of bright shiny objects, most of which ended up primarily as a reduction in the L&D budget in the next year.

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Relevance Trumps ROI

Jay Cross

Excerpts from an article by CLO’s Deanna Hartley : Determining Relevance: Tangible vs. Intangible . Some learning leaders — perhaps fearful for their budgets and status as business partners — may be wary of seemingly unquantifiable learning initiatives such as social learning, but hard numbers aren’t always the best indicator of success.

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Think like a CEO: What CEOs want from their CLOs

Training Orchestra

CEOs are usually better positioned to look at training in relation to larger business goals , which is why the CEO to CLO relationship is so important. At Training Orchestra, we work with both CEOs and CLOs, and their perspectives offer valuable insight on what CEOs actually expect from their CLO , and what the priorities should be. Learning departments know all too well that in tough times, the training budget is one of the first ones to take a hit.

Thinking Beyond a Seat at the Table

CLO Magazine

It’s time to take the CLO role to a higher level, not just on the organization chart, but in terms of influence and organizational accomplishment. Chief Learning Officer ’s “2015 CLO Measurement and Metrics Survey” indicated that 36 percent of CLOs are using business impact to show the value of learning to the broader enterprise. Twenty-two percent are using ROI for the same goal. In all, 72 percent are either using or plan to use ROI in the future as a tool to show impact.

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Why Custom Courseware is the Future of Enterprise Learning

Training Industry

We all know that the training department’s budget is forever shrinking. However, it’s possible to reassign budget dollars that are already being spent to accomplish the same goal. Content marketing, on the other hand, comes out of the marketing department, which can use client acquisition statistics to determine a return on investment (ROI). TJ Coyle is the CLO of Alphanumeric

Measuring the Effectiveness of Your Training

Training Industry

Another report, from CLO Media and IDC, found that between 2010 and 2015, an overwhelming number of CLOs were dissatisfied with the tools, resources or data available to them to measure learning impact. Something must be done so that business leaders can find useful and pertinent information about the effectiveness of training programs, make better use of the training budget, and obtain the results they seek.

To Deliver Results Start with Why?

CLO Magazine

This starts by setting objectives at different levels for reaction, learning, application, impact, even ROI when needed. Finally, for programs that are very expensive, important and strategic, the evaluation should be pushed to ROI (Level 5), usually in 5 percent of programs. The good news is these measurement targets can be achieved within most budgets. Top-executives who provide budgets need results for future funding decisions.

3 Employee-Centric Best Practices

CLO Magazine

L&D is fast becoming a business imperative, but not all C-suite peers necessarily see value when hard measurement of ROI has been lacking. Tying L&D programs to tangible results — such as proficiency, which is becoming the new currency of ROI — is essential. Learning program efficiency is a must when budget, time and resources are constrained. The post 3 Employee-Centric Best Practices appeared first on Chief Learning Officer - CLO Media.

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Financial Investment

Tony Karrer

Yes, your budget is being cut, but it's way safer to propose on-going financial investment in a tried and true method than it is to propose shifting budget to new methods. Not a Short Answer I wish there were a set of business cases that we could point to that would exemplify what a VP Learning/CLO should be presenting to their executive team. What should a VP Learning / CLO present to the executive team? ROI and Metrics in eLearning eLearning Technology.

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CFO, Friend or Foe?

CLO Magazine

In fact, the CFO usually has approval for the budget before the CEO approves it. For more than 100 years, CFOs have been using ROI for capital expenditures. One told us, “They already hate us because of the budget process, now they are going to hate us even more when they perceive us as measuring their performance.” CFOs may have no idea how to connect leadership development to a financial ROI, but chances are, you do.

20 things I’ve learned from 20 years of learning measurement

CLO Magazine

At a recent CLO Exchange, a learning leader said his success with measurement came back to “starting with the business questions you’re trying to answer.”. Budgets, platforms and such vary between organizations, and all influence the quality of training. 17: Business impact does not necessarily mean ROI. Most business stakeholders don’t know how to interpret your ROI of 137 percent. There’s something about a new decade that naturally makes us look back and reflect.

Partnering With the C-Suite

CLO Magazine

The CLO is strategically positioned to focus on business objectives, outcomes and costs. If the investment can be better spent in another area with more impact, then learning should gladly offer up the budget. With a single-minded focus on investment showing ROI, the CLO becomes an unbiased business partner, strategic consultant and team player in the C-suite. The VUCA Effect The CLO has a compelling reason to focus on the business impact of learning investments: VUCA.

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Corporate Training Tech Developments You Need to Watch in 2019

CLO Magazine

According to LinkedIn’s “2018 Workplace Learning Report,” as companies grow, they dedicate more budget to scalable online learning solutions that meet growing skill demands. For instance, analytics for some virtual training and IT labs technology can assess results and calculate ROI. The post Corporate Training Tech Developments You Need to Watch in 2019 appeared first on Chief Learning Officer - CLO Media. People often vow to make improvements at the start of a new year.

When it Comes to Coaching, Messaging Matters

CLO Magazine

The L&D teams I’ve met with are eager to explore learning options both to accelerate the growth of their high-value employees and enhance their recruitment efforts, and they are pushing for budgets to do so. Given these realities, some form of coaching initiative, whether specialized one-on-one sessions or group training, may already be on most CLO agendas. Across L&D meeting agendas and HR discussion platforms, talent development is a perennially trending topic.

Dysfunctional Practices Lead to Post-MBA Sponsorship Retention Woes

CLO Magazine

This squanders the opportunity to extract the greatest benefit for the organization and suboptimizes the overall budget for managerial development. Often, these unit-level leaders see a benefit in investing in the development of a rising star and find the budget to offer some financial support. The ROI for that manager is career advancement. Retention and ROI.

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Take Learning to the Next Level

CLO Magazine

This has a big impact on an L&D program’s bottom line and is so much more than just being entertaining and engaging for employees — it can actually point directly to an ROI. Even those with large budgets should start small. The post Take Learning to the Next Level appeared first on Chief Learning Officer - CLO Media.

Role of a Learning Consultant: Insightful discussion imported from LinkedIn

ID Reflections

Never build a training program that dont have a ROI. And when I say ROI it should not be how many people were trained and what their training scores were. True ROI is when you can let people know how the training has brought about marked change in performance. 2) Develop a plan for solving the problem, based on company culture, existing materials, resources, budget, stakeholder and SME involvement, vendor solutions and a host of other variables.

The 50:50 learning model

CLO Magazine

Nonetheless, there are options to facilitate talent development within tight budgets and on small teams. Additionally, when you are in the startup phase there are not enough people to train to give you ROI on a formal course. The post The 50:50 learning model appeared first on Chief Learning Officer - CLO Media. Corporate L&D is a key component of any business’s overall strategy. It helps ensure employees are constantly engaged and grow along with the organization.

Start with the End in Mind

CLO Magazine

Jack Phillips introduced the level 5 measure of ROI to address this issue. Work backward from your planned level of improvement to identify all the steps required along with appropriate resources such as staff and budget, measures, roles and responsibilities. Tags: reflection , strategy The post Start with the End in Mind appeared first on Chief Learning Officer - CLO Media.