The first thing you and your L&D team should do post-training is measure the overall effectiveness and efficiency of the program. There are multiple metrics to utilize. For example, you could ask for feedback from your program participants through a survey or questionnaire. The exercises below help you to figure out the best method for your needs.
Return on investment (ROI) is one of the most important metrics for any business and training is no different. One basic formula for calculating ROI is: change in profits related to training divided by the cost of the training. The exercises below take a deeper dive into the several different ways ROI can be assessed.
After measuring your training effectiveness and calculating the training ROI, you may find that you need to reduce costs in certain aspects of your L&D program. However, reducing costs doesn't mean reducing effectiveness. The exercises below provide a few tactics to assist you in lowering expenses without compromising quality.