Learning
The ROI of Learning and Development: Your Ultimate Guide
From driving engagement and high performance to cutting staff turnover and safety risks, the impact of an outstanding employee learning strategy seemingly knows no bounds.
Yet there’s one stumbling block facing learning and development leaders across almost every industry: return on investment.
We're here to help you discover the power of ROI in Learning and Development!
Proving a worthy ROI has long been a thorn in the side of those responsible for employee learning – and understandably so. It’s difficult to demonstrate the true impact of L&D strategies.
As businesses recognise the wider impact of HR and L&D on overall outcomes, the remit of these functions is expanding. Also, in an era of financial uncertainty, there is a greater need to prove the value of output and operate within tight budgets.
And so, leaders in these areas are under pressure to keep up with evolving demands and deliver results without breaking the bank.
Today we are grappling with an incredibly turbulent situation. Work is changing, life is changing, business is changing.
Everything about HR has been changing in the past few years – hybrid working, talent and skills shortages, an economic recession and throw in a cost of living crisis on top.
Right now, the impact that L&D can have on business performance has never been more important: building a resilient workforce, innovating working norms, bridging the talent and skills shortage gap, creating empowered learning cultures.
In a time of financial belt tightening, where budgets are normally reduced, we are seeing these increased demands.
Introducing the ultimate guide to the ROI of Learning and Development!
If you're researching the ROI of Learning and development, then you understand that investing in your employees' training and development is essential to keep your organisation competitive and your people engaged.
But let's face it: understanding the potential value of L&D and measuring impact is notoriously hard.
This makes it difficult to both prioritise where to use your budget and to demonstrate the ROI of Learning and Development to those important stakeholders holding the purse strings.
24% of L&D teams don’t measure impact
Only 8% of L&D teams evaluate how initiatives impact the wider business
Many businesses struggle to grasp the complexities of learning and development ROI, which puts them at a disadvantage in the market. By taking the time to understand this critical topic, you'll be positioning yourself for success and gaining an edge over your less-informed competitors.
- Do you want to know the true impact of your current L&D investments on the bottom line?
- Do you want to know what the potential ROI of L&D in your organisation could be?
- Do you want to demonstrate why investing in learning and development achieves higher returns?
We're here to help you discover the power of ROI in Learning and Development.
Understanding and measuring the ROI of learning and development initiatives is crucial for businesses to drive real results, increase revenue, and improve profitability.
To achieve this, it is essential to tie L&D strategies to clear business objectives and execute them strategically with measurable outcomes.
An Essential Guide to the ROI of Learning and Development
To truly maximise the ROI of your L&D investments, it's crucial to understand the full scope of potential L&D impact on your business. By gaining this understanding, you can identify the areas where L&D investments have the most potential for impact and focus your efforts accordingly.
This will help you set L&D goals that are aligned with business objectives and select the most effective training programmes and delivery methods.
This is why we’ve created ‘The ROI of Employee Learning: Calculating the true value of L&D’, an essential guide for business professionals who want to:
- fully understand the potential impact of investing in L&D
- know how to maximise their L&D investments
- get buy-in for investment in Learning and Development
Why should companies invest in training and development?
If you’re not sure why to invest in Learning and Development, here’s a quick overview of some areas L&D can provide positive impact:
- organisational performance
- staff retention
- employee engagement
- health and safety efficacy
- regulatory compliance
- employee wellbeing
- customer satisfaction
This is a topic that requires a deep dive to answer the question “Why companies should invest in training and development?”.
We’ve done that hard work for you, offering a thorough examination to leave you informed and confident.
Real-life examples and hard-hitting statistics are vital to build a compelling business case for investing in Learning and Development.
Here’s a taster of the type of stats you can use to help illustrate why companies should invest in training and development:
- companies with a mature learning culture are 24% more likely to improve employee retention
- 40% of employees are considering quitting, with the top reason being due to a lack of development opportunities
- effective cyber awareness training reduces the risk of breeches by 77%
What else does the ROI of Learning and Development guide provide?
The guide provides you with the knowledge to gain a comprehensive understanding of the potential impact of learning and development on your business, enabling you to make informed decisions about where to allocate your budgets.
'Designed as an easy to use eBook, by downloading this guide today, you will gain valuable insights:
- discover L&D ROI calculations, step-by-step
- align L&D strategy with business objectives
- explore and expand measurements of impact
L&D investments
Those responsible for talent management, training and their relevant budgets are often left wondering where they should be investing in learning and development in 2023.
There are a wide range of digital learning solution investments that businesses can make, either together or in isolation, for example:
- eLearning courses across various topics for risk mitigation
- Learning Management Systems for effective and efficient organisation wide compulsory learning
- Personalised Learning for tailored skills and career development
- Self Directed Learning to take your learning culture to the next level in employee engagement
We explore these in the eBook to provide a comprehensive overview of possible L&D investments.
Download your eBook now
We've created a practical guide which provides valuable insights into how to get the best ROI on your learning and development software.
Fill out the form today and start reaping the benefits of your learning and development investment!