The success of training programs is difficult to understand as it depends on several factors. The quality of training materials, trainer’s teaching capabilities, trainee’s learning aptitude, etc. are a few of the prominent dependencies. In this article at Your Training Edge, Bryant Nielson shares 10 metrics to measure how tangible your training programs are.
The Reality of Training Programs
Companies invest a lot in training programs to upskill new and existing resources. Budget, time, and efforts are lost if employees fail to be efficient on the floor. Retraining can incur additional costs, so why not take proactive measures to reduce such risks? Following are the 10 metrics to measure how tangible your training programs are:
Retention Rate: The recruitment department usually measures this metric. It concentrates more on resources performing the frontline and high-value jobs. Inefficient resources leave jobs in 90 days. Meanwhile, higher retention means successful training programs.
Sales Figure: With good training programs, the sales team performance can improve resulting in increased sales figure. Improved product knowledge in the team can also cause a sales surge.
Operational Capabilities: Measure how efficiently managers are running business operations. The result will increase the bottom line and set the level of the course content for your training programs.
Customer Service: Send out a survey to understand customer service issues. Focus on the improvement areas in the training programs.
Company-Specific Scorecards: Discuss with the management and stakeholders to set the expectations for the training sessions.
Training Cost: Measured internally, this metric shows lowered cost for brands that enjoy higher returns. Retention can also influence these results, so decide on the training costs with your stakeholders and HR.
ROI: It is difficult to measure ROI for soft skills training programs but there are training areas that you can.
Revenue Accrued: It is an accumulated result of the sales figure, operational capabilities, and customer service. Essentially, better ROIs means better training programs.
Trainer Quality: This internal metric evaluates the trainer’s teaching quality based on trainee and managerial feedback. You should consider their presentation capabilities, subject knowledge, effective delivery of organizational values, and compliance with terms of instruction.
End-User Experience: After completing the training, give the attendants 1 to 2 months’ time to understand the benefits. Smile sheets can tell the satisfaction level during the training session. Meanwhile, a survey done later can showcase the effectiveness of the training materials.
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