Business Tips for Securing a Positive ROI on Your Training and Education Dollars
Research continues to suggest that the majority of dollars spent on training does not contribute a positive return on the investment. To help you leverage and maximize your training budget consider these 3 tips.
1. Schedule short (2 hour) weekly learning engagements instead of one or two full day training sessions because a one day seminar delivers the following memory or cognitive retention (unless you have a budget that provides for one on one follow-up coaching):
50% after 24 hours
25% after 48 hours
2% of less after 16 days
2. Purchase performance based curriculum that includes:
Focus on affective learning domain (attitudes)
Audio reinforcement for multiple exposures to a learning concept
Action plan that provides the basis for continual application of newly learned concepts
Interactive facilitation that encourages the What's In It For Me (WIIFM) leading to the What's In It For Us (WIIFU)
Builds the strengths within participants instead of working on the weaknesses (Winning teams win because of the strengths of each team member.)
3. Superworkers are not usually excellent Supervisors because they were promoted for their job specific skills not their people skills. Assist newly promoted employees by providing training for the interpersonal skills.
By beginning with these 3 simple tips, you can start to realize a positive return on your training and education investment dollars. Of course, you can continue to believe that the one day workshops and standard training format will meet your needs. Yes, they will do that as well as deliver a negative return on your training dollars.