7 steps to achieving ROI from learning and development
Most of us are clear about our goals in work or life. The clearer you are about what you want to achieve, the bigger your chances of making it happen.
I’ve had some great roles in my career as a Hotel Manager and Learning and Development Manager in some amazing organisations. The businesses that were most successful were always super clear about their aspirations for any development programme, particularly about their expectations for return on investment (ROI).
In my last L&D role, the leaders had absolute clarity about what development the team required to grow and progress in their careers. They knew the exact skills and knowledge the business needed.
As the business progressed and introduced new ways of doing things, their team’s skills, knowledge and behaviours developed at a similar rate. It was my job to enable the team to deliver what was required and to support the company’s culture. The company was hugely successful and went on to achieve outstanding financial results. Everyone benefited.
Don’t waste the potential of learning and development
However, I know from experience that this isn’t the reality for every organisation. Over the 10+ years since founding Zest for Life I’ve been invited to work with a number of high profile organisations.
My brief is simple - I design and deliver what’s asked of me.
Most organisations know what type of learning, training or development programme they would like me to deliver. Yet not all of them understand why.
For some leaders it’s a case of ticking the learning and development box. Either they aren’t clear about their aspirations, provide a very sketchy brief, or have little idea how to use a learning and development specialist. I deliver my training and leave wondering what the actual return on investment will be.
For any training you deliver, a relatively small proportion of what’s delivered sticks and is actually implemented. Real life takes over. We go back to our day jobs and don’t have the time, space or resources to implement what we learn.
When leaders are clear about the required skills, knowledge or behavioural change they are looking for, the value of Learning and Development really comes into play. I’m writing this because I absolutely believe in its value and potential for return on investment. If you like what you read here, let’s have a chat!
Keep your eye on the prize from the outset
I’m currently working with a client who, from the start, has been completely clear about the outcomes they want to gain from the training I deliver. They’ve appointed a specialist within the team to own these changes and implement learning from the training. I’m confident they will achieve a definite return on their investment.
ROI works in exactly the same way in our personal lives. If you decide you want to learn the piano, you’ll probably look for a piano teacher local to you. If you put your mind to it, you will learn how to play. However, if you tell your piano teacher that you want to learn to play ‘I’ve had the time of my life’ in time for your sister’s wedding on 25th July next year, you are much more likely to achieve the specific goal you set. When you see the incredulous look on your sister’s face, the money you invested in piano lessons will be well spent. That’s tangible return on investment.
Getting ROI from coaching
Coaching is most powerful and effective when the manager, client (employee) and coach come together to agree some desired outcomes.
So often, managers agree to invest in coaching for their team members without having this three-way conversation. Yet this is critical to holding the team member and coach to account and staying on track to deliver the required outcomes.
It perplexes me why leaders choose not to have these conversations and send their employee in to a coaching session without foresight or objectives in mind. The way I see it, they are crucial to making their business aspirations a reality. Why do you think this happens?
7 steps to success
Whether you’re embarking on a coaching relationship or a transformational learning and development programme, our seven steps to success will pave the way for clear return on investment:
Be clear about your aspirations.
Articulate what you would like your team member or team to do differently than they are now.
Find a suitable learning intervention to meet the need. Agree how the training will be embedded, and what needs to happen before and after training to ensure the skills, knowledge and behaviours are applied.
Brief the team member / team and training provider about the ideal outcomes you want for them and the business, and how these will be measured.
Deliver the training.
De-brief the training with your provider.
Monitor the results and return on investment.
For guidance on getting the most from your learning and development journey, contact me here.