Measuring Business Impact
Our Shaping the Future of L&D series takes a look at the ever changing world of L&D, compiling insights and research from industry experts, to help you progress on your L&D journey. Hear from our experts below.Shaping the Future of L&D
Insights & Research
1. Who currently has the responsibility?
Only 5% of business managers and L&D professionals regards the L&D department as currently having ultimate responsibility for productivity in their organisations. More than half (59%) of L&D professionals report that they have always been tasked by senior management with improving productivity as part of their role.Source: 'LD Agents of Productivity HR'
2. The requirement within L&D
Great L&D delivery needs to focus on what matters most to the business. No matter how much learning takes place, if there is no direct connection to financial outcomes, the challenges to get executive buy in and budget will remain.3. Identifying the barriers to L&D and overcoming them
Only 40% of companies say that their learning strategy is aligned with business goals. L&D teams need to develop a stronger connection to the business so that they become confident in the function's value.Source: 'Digital Impact Survey Report 2019'
4. Data analytics tools needed
Predictive analytics tools have arrived, making it possible to analyse data regarding recruitment, performance, employee mobility and other factors. Executives now have access to a seemingly endless combination of metrics to help them understand, at a far deeper level, what drives results.For more information on the future of learning and development get in touch today.
Joan Keevill
Key points
- If we don’t know what success is, how can we measure it?
- Historically, we’re typical of counting people and not the outcomes. L&D need to gather more impact data rather than completion rates.
- There needs to be a partnership between L&D and management to bridge the gap between learning interventions and day-to-day performance.
- L&D teams need to have the confidence to ask more questions.
“The reason some L&D projects fail is the lack of impact they have on the organisation”
Kevin M. Yates
Key points
- L&D needs to change from being a fulfilment centre to performance consultants
- Be patient when beginning the journey of measuring the impact of learning. Overtime if L&D change their conversations with the business they will be seen as impact makers.
- Methodologies and frameworks that already exist give context to help start the process and assist in changing mindsets.
- When speaking to the organisation, choose the right conversations for the audience being addressed.
“Measuring the impact of training is an art, a science and a skill”
Krystyna Gadd
Key points
- If L&D don’t measure the impact of their efforts, they will never receive the reputation they deserve.
- We should never stop being curious. We need to get close to the business and to stakeholders by asking questions and finding out what they really need.
- Don’t get overwhelmed with data. Trust your gut instinct to know where to start.
- There is a story that can be found from analysing data. What do you see?
“L&D need to start doing something real with data to justify their existence”
Shaping the future of L&D
What's coming next?
We all know that the pandemic has had a huge impact on the Future of L&D, so to find out more we surveyed over 2,000 learners to see how their expectations of learning have changed. We are currently working on analysing these findings and producing three reports, in partnership with a number of industry experts again. These will cover:
- Creating training to suit the learner – How have learners’ expectations changed and what is their ideal learning experience? With so many new learning styles available, how do organisations create a compelling learner journey?
- The importance of investing in your learners – Who should be responsible for learning, the employee, employer or both? In this report we look at the importance of investing in learners and the benefits of being invested in.
- The future of digital learning – COVID changed how businesses are working, and with this change the L&D industry have had to adapt. What does the future hold and what do companies need to consider in order to make learning an effective part of their employee’s everyday work?
If you would like to register to receive these reports or any other resources to help fast track your L&D efforts register below.
Speak to our team
With over 25 years’ experience in designing and building digital training we know exactly what it takes to create high quality, high value learning experiences whilst ensuring our training is cost effective. We believe in keeping things simple. In designing training that saves time, drives real behaviour change, and still gets results. Through our Human-Centred design approach we create exceptional learning experiences that bolster the knowledge, skills and confidence of your business’s greatest asset, your people.
Why not speak to one of our Learning Consultants today to find out how we can help you craft learning and development paths that align to your businesses' goals?
