Identifying KPIs for Measuring Learning and Development Program Success
Corporate learning is a form of learning and development program designed to teach employees to align their capabilities with business goals. Millions of employees engage in L&D programs each year, with compliance, soft skills, upskilling, and product training being common areas of focus. In response to the COVID-19 pandemic, companies are investing more in training than ever before.
Measuring the ROI of these programs is very important to be sure that the L&D programs are successful. Surprisingly, only 8% of L&D teams calculate ROI, leaving many programs without success metrics, which can cause higher-ups to doubt the profitability of the programs. Calculating true ROI can be challenging due to various expenses involved, including time, effort, and monetary costs. While traditional metrics such as the number of attendees or completion rates are less relevant to measure the impact of an L&D program include new metrics like increased sales, employee confidence, and reduced churn gain significance.
With the right tools and approaches, it is possible to measure the impact accurately. Arist, a science-backed microlearning platform, is highlighted as a solution that offers purpose, accessibility, and content aligned with modern key performance indicators (KPIs). By using Arist, organizations can save time, money, and energy while boosting employee confidence, learning adoption, and speed of learning creation. The Arist ROI Calculator is recommended for measuring L&D ROI efficiently.
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Source: Arist