Many companies face the question of the value of investing in organizational learning.
Consider this: A four-year study by the American Society for Training and Development (ASTD) shows that firms that invest $1,500 per employee in training compared to those that spend $125 experience on average 24 percent higher gross profit margins and 218 percent higher income per employee.
While those impressive statistics may occur over a long period, its also possible to evaluate how learning contributes to the performance of your company in a more immediate manner. Some measures are directly quantifiable, but intangibles can also provide indicators of organizational learning. Its important to recognize and track a variety of measures, from the global down to the specific, the tangible to the intangible.
Meeting Business Goals and Objectives. A recent client wanted greater penetration into key markets, but the sales force lacked the skills. They invested in a new sales analysis system together with direct training in data analysis, presentation and negotiation skills. Their clear measure of success was in hitting financial and business goals.
Measuring...
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