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Feb, 2023
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As a learning and development director, you have a responsibility to ensure that your organization is getting the most out of its training initiatives. One of the most important metrics that you can use to measure the success of your training programs is the return on investment.
Return on Investment (ROI) is an important metric for any business. For training programs, it is especially important to measure the ROI, as training programs can represent a large financial investment. As a result, it is important to review the effectiveness of the training program and adjust it to maximize the return on the company’s investment.
Calculating the ROI of a training program is not a straightforward process. You will need to consider a number of factors, such as the cost of the training materials, the cost of staff time, and the cost of implementation. You will also need to consider the intangible benefits of the training program, such as improved efficiency, increased productivity, and improved morale.
In order to accurately calculate the ROI of your training program, you will need to collect data on a variety of metrics, such as staff productivity, customer satisfaction, and sales figures. This data can be used to calculate the cost of the training program as well as the benefits it has brought to your organization.
Measuring the ROI of a training program is a complex process. There are many factors that need to be considered, such as:
These factors can be difficult to measure and quantify, but if you use the right technology you will be able to easily determine the ROI of any of your training programs . Once these factors are taken into account, it is possible to calculate the ROI of the program.
Return on Investment (ROI) is an important metric that can help you measure the success of your training initiatives. By collecting data on a variety of metrics, you can accurately calculate the ROI of your training program and determine whether it is worth the investment.
By taking the time to calculate the ROI of your training program, you can ensure that your organization is getting the most out of its training initiatives.
The role of a Learning and Development Director is an important, yet challenging job. In this role, you are responsible for ensuring the success of the employees and the company by providing training and development opportunities. But how do you know if the investment in these programs is having a real impact? As a Learning and Development Director, quantifying the return on investment (ROI) of your training initiatives is an essential part of your job.
When trying to measure the impact of your training initiatives, it is important to differentiate between tangible and intangible benefits. Tangible benefits are those that can be easily measured, such as increased sales or improved customer satisfaction. Intangible benefits are those that are more difficult to measure, such as improved employee morale or increased engagement. Both types of benefits are important, but they require different methods of measurement.
The classical way of qualifying intangible benefits is highly time consuming. It consists in measuring the impact of your training initiatives using pre and post assessments, surveys, and interviews to collect data from employees. You can ask questions about their satisfaction with the training, their understanding of the material, and their overall attitude towards their job. The insights you gain from surveys and interviews can help you make informed decisions about which training programs are having the most impact.
The second way involves technology and is therefore quicker and more powerful. Using an online tool to help you monitor and measure the performance of candidates after each training at any time of the year is crucial. Building a strong collaboration between the L&D department and managers is key to ensure competencies are implemented on the job. This way the pressure is distributed between knowledge acquisition and implementation. Senior leaders, managers, and team leaders’ duty is to help their employees implement what they have learned through communication and feedback. It is a proven way to measure the impact of your training initiatives using real metrics.
As a Learning and Development Director, it is your job to ensure that your training initiatives are having a positive impact on the company’s bottom line. Measuring the ROI of your training programs is essential, but it can be a challenge. By using an automated tool that tracks performance and relevant metrics both to date and over time, you can quantify the impact of your training initiatives and ensure that they are having a real impact on the success of the company.
Communicating effectively with team members requires thoughtfulness, repetition and effort, but it is something which is absolutely essential for leaders who want their business to be successful.
It’s all too easy to underestimate how important communication in leadership can be to any organisation. Yet effective and strong communication with employees is vital, not only so that workers can understand the goals they are working towards but also so they can feel that their opinions are important and are taken on board. When leaders communicate effectively with their employees, productivity and profitability both increase. With this in mind, how can you work towards improving your own communication with your staff?
When leaders have a culture of open communication within the workplace, workers naturally feel more trusting of their managers. They also feel more valued. When managers delegate tasks without getting input from their team, it stands to reason that employees will never work to their best potential. Something as simple as telling workers why a task must be done rather than simply ordering them to do it fosters a sense of respect for management.
We communicate non-verbally a surprising amount of the time, and so simply telling workers they can approach you at any time is pointless if you display body language which says something completely different. The best managers are aware of their attitude and what they project to their employees. Approachability is key – if you are always rushing or short with workers, it stands to reason that they won’t be comfortable to communicate with you. By maintaining a positive and friendly demeanour, managers can instill a sense of trust amongst their team.
The best communicators will get straight to the point with their messages and ensure complete clarity at all times. Technical jargon and “Management Speak” must be banished from the workplace, whether speaking in person to a team member or sending them an email. Without clear language, the chances of miscommunication are high and so is the risk of alienating employees.
Team feedback is extremely helpful for any business. However, for employee feedback to show its full potential, it’s important for them to know they’re able to communicate openly and critique ideas freely. Fostering a culture where feedback is not only accepted but welcomed is essential, but equally vital is having an environment where workers know that their opinions are valued and taken on board. If necessary, an employee engagement survey could be the way to ensure team members are comfortable enough to give feedback.
It’s surprisingly common for business leaders to forget to keep their workers informed about company business. Yet, this leaves employees with a feeling that they don’t matter and are solely there to do their manager’s bidding. The result is a barrier being created between team members and their leaders.
Successful managers help their employees to feel connected with their organisation by keeping them up to date with goings on. Inform them about how projects are going, remember to thank them for the successes they have achieved and offer congratulations when it’s due. Even more importantly, be honest about failures rather than trying to place a positive spin on them.
Communicating effectively with employees needn’t be a challenge as long as managers are prepared to put essential changes in place. WIN Human Resource Solutions offer organisational behaviour seminars which help leaders to learn more effective communication skills which they can then put into practice in their workplace. As a result, productivity and profitability can increase substantially.
There are many definitions of what a leadership style is, but often it’s considered to be the approach that a leader takes when creating a direction and setting goals, as well as their main behaviour patterns and the characteristics that they exhibit. Having a good understanding of your leadership style can help you to improve techniques, adjust your style depending on the situation, and achieve a higher level of success when pursuing a vision.
Over the years there have been many models of leadership style presented, with the six styles of leadership model created by Daniel Goleman in 2000 often at their core. One purpose of the six styles of leadership is to give clarity to the way that leadership approach can influence the climate of an organisation and how approach correlates to success in different situations.
Each of the six styles of leadership is very different, but which one would you consider to be your style?
Assertive leadership can create a very positive environment with a leader that’s focused largely on change and the achievement of a vision. Assertive leaders motivate others, create visions, and guide people towards positive change; they’re self-confident and very empathetic.
An affiliative leader is a person who aims to create great working relationships and encourage people through difficult situations. Affiliate leadership involves a considerable amount of communication and the development of teamwork to create a positive environment.
Coaching leadership creates a positive environment with a leader that’s focused on skill development and improved performance. Coaching leaders spend a lot of time developing the strengths of others with ready encouragement and feedback.
Coercive leadership is built on a foundation of problem-solving and is often used in an emergency situation where fast action is required. This style of leadership is very direct with the leader demanding immediate action; coercive leadership normally fosters a negative environment. Many coercive leaders have a high self-control and desire to achieve but are not very flexible.
Collaboration is an essential aspect of democratic leadership. Democratic leaders put a high value on communication and teamwork with a desire to get everyone involved in achieving a vision. The high motivation and openness to ideas created under this leadership style generally create a positive environment.
Pacesetting leaders lay out their expectations and expect others to follow them without question, which often creates a negative working environment. This style of leadership is focused on achievement and high standards, with a leader who has initiative and is efficient and careful.
In this model of leadership, there’s no single ‘best’ leadership type, but there can be a best style for every unique situation. Understanding what style is required for each situation is one pathway to success as a leader.
At WIN HR Solutions, we understand Talent is scarce and volatile, and managing the human element has never been so complex. We can turn your managers into people managers. Contact us to learn more.
Employee engagement is a proven accelerator for growth and business success. The only medium through which the engagement of employees can be achieved is a group of fully dedicated leaders.
Engaged leaders create engaged employees. Engagement always begins with the leaders, not the employees. If the leaders are trying to motivate the employees to engage and they as leaders are not engaged themselves with their employees, then any investment in engagement training will be basically lost. In most cases, the direct supervisor is the main influence behind an employee’s resignation from a company. If the manager is truly disliked and not approachable, many talented employees will listen to the sirens of job offerors and leave in pursuit of something (or someone) better.
Research shows that trustworthy constructive communication is key to employee engagement. However, communication can take many forms, so it is important that the correct media are used when delivering any message or feedback.
The vast majority of employees want to know how their efforts contribute to the goals of the company. It can be highly demotivating for employees to work many hours without really knowing what direction they are taking. Employees will accept the difficult periods if their sense of purpose is clear, and they are given a fair treatment, safety, recognition, and respect. A clear job description and role clarification will explain the essence of what is expected from the employee in the workplace, but they do not solve all problems. Employees will look for direction in their own specific way, their sense of priorities and their need for support may differ, and their understanding of their manager’s expectations may need more or less clarification based on their personality.
Regular interaction and feedback will always encourage engagement from the employee. Great leaders are excellent communicators and great coaches.
We all enjoy receiving recognition for good work and receiving regular praise will again encourage engagement; however, this praise should have meaning and value. Simply telling someone everyday well done when it’s not crystal clear what was done well can have an adverse effect. Feedback is about clarity and facts. It is an important motivator that will also boost employee engagement.
A leader may often have to make difficult decisions for the company, like introducing a major change. If employees feel free to share their thoughts, ideas, and even fears, then engagement will also be guaranteed even during hard times. The employee’s perception of a leader also changes from being the one in charge to actually being the one trying to make a difference.
Many managers often fail to engage their employees because they do not understand the mechanisms behind the way an organization functions and the synergies that can be created between its components and the available resources. The major resource, the most expensive and volatile being the human resource.
And there is no training on engagement that will deliver when given to employees. Employees’ engagement is strictly about training and coaching the managers on how to engage the employees.
We firmly believe that leadership skills, including a thorough knowledge of the structures and culture within the organization, a highly developed communication skill, and strong techniques of people management will be the cornerstone of any engagement project. Engage and develop your managers, turn them into leaders, and your employees will ultimately follow.
Desire. Having the desire to want to see the company and the inspirational leader succeed is a big motivator.
Effort. A joint effort from the team creates group engagement. If one can rely on colleagues as well as the manager for support in good and bad times, the commitment and engagement are strong.
Pride. Inspiring pride in the organization and loyalty (thus longevity) creates a natural engagement.
Communication. Taking the decision to communicate through many media will challenge the fears and pull the workforce together.
Openness. Having the ability and opportunity to speak up and provide recommendations even if they are not quite the answer allows the employee to feel they matter to the company.
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The HR department has come a long way during the last couple of years, and this year has been no different. This transformation in the HR department has been hallmarked by a few distinct trends and features.
To understand this HR transformation and to be a part of it, you need to understand the trends that relate to it. These trends we will mention here relate to how perfectly the HR department has embraced the use of technology for record keeping and analysis. We all know how unkempt data previously was within HR, which is why this recent transformation has revolutionized the department and has made HR a more data-oriented field.
1- Trends Defining the 2018 HR Transformation
Here we have 3 of the most vital trends that power the HR transformation forward during the year 2018. These trends are based on the changing forms of technology, because technology has had a big role to play in how work is done within the department off late.
2- Technology Will Do What You Tell It to Do
Technology sits at the forefront of the HR transformation and what we know by now is that technology will only do what you tell it to. Your HR profile will only be as good as the system behind it. You can set up your technology and design it according to what you want to achieve, but if you aren’t able to do that, then you need to reassess your whole transformation.
It is important for the technology you have to be aligned with the goals of your organization. Only if they’re aligned together will you be able to keep track of the progress.
3- Virtual Agents in HR
Virtual agents exist in HR, and they power this transformation forward in 2018. This concept was at an early adoption stage back in 2017, but 2018 has seen a much better push towards achieving it. One of the most prominent examples of a virtual agent is that of Watson. Watson’s virtual agent can be used for purposes including communication with customers or to manage employees within a business. This agent can perform clerical, administrative and human resource services almost virtually.
4-Big Data and AI
Big Data and AI have made a strong entry into the HR department. Instead of humans designing career paths, programs and competencies, machines will now effortlessly and effectively measure the metrics of employee success. This method holds a lot of potential in the modern day workforce, where Big Data can team up with Machine Learning to provide data regarding what creates success within an organization. The data is basically derived through the use of different algorithms measuring performance. This game changer will disrupt organizational development and will create room for better career paths and employee success.
Conclusion
As of now, 2018 has proved to be extremely fruitful for the HR revolution. The transformation was at a nascent stage in the previous years, but it is very much in the implementation stage now as we see organizations looking to be part of this bandwagon that leads towards increased efficiency in HR.
WIN Human Resource Solutions is specialized in increasing organizational productivity, facilitating change, building leadership skills, hiring selection assessment and harmonize your workforce.
Savings of 29% in staff expenses, 70% decrease in Staff turnover in some cases.
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The competitive marketplace makes it harder for companies to find and retain long-term real sales talent. It’s often encountered that leaders are looking to find the top performing people with very high expectations, that sometimes are unrealistic. When the bar is set too high, finding and retaining the competitive employees, who will become an integrated part of the team, is often set to fail.
Have you taken a step back to consider what profile among the various talented people available in the market is suitable to your company and your culture? Have you considered aspects that are not necessarily mentioned in a CV? Have you decided if you would rather go for a loner genius or a fantastic team player with less raw talent? It is important to take your organization’s culture and working environment into consideration before making any recruitment decision. Opting for a decision that goes against your existing culture may trigger unexpected reactions and changes that might culminate in a complete and very expensive cultural transformation.
This is not an exaggeration. One person can influence a whole system, either positively or negatively. Consider a newly recruited superstar. It would only be normal for management to cocoon and praise that person. Other employees will end up either resenting the preferential treatment (even if it well deserved), or copying the behavior of the star employee hoping they will receive a similar treatment. The disruptions that will follow may take the form of a tidal wave that will seriously shake your existing culture.
You need to create a working environment where you don’t become unrealistically demanding of your employees, while still keeping them motivated. It’s easy for your team to relate to a winner mentality, so make sure that you share your leadership vision with them. Encourage a healthy competition between your salespeople by focusing on strategic business goals that the whole team has to meet. This way, their natural competitiveness will be motivated in a fun, positive way and they will also relate to you as their leader.
Talented salespeople are usually motivated and striving for growth. They will stay involved if their achievements are acknowledged and are offered possibilities to develop professionally. What training opportunities are your offering your salespeople? Do they have the chance to be mentored? Are they updated with the latest sales technology? How good are their negotiation skills? Do you have a budget for conference and seminars where your employees will not only grow professionally, but also have the chance to network?
In such a competitive economy, trained employees equals performance and higher profits for your business.
It is a fact that the new generation is looking for recognition and good work environment. Now, more than ever, work-life balance and flexibility are important to keep your top employees interested in working with you.
A way to send a clear message to your employees that you trust them and that the work environment is employee-centered is to offer them certain benefits that also fit your operational needs. For example, find out if they would be interested in a more flexible hour policy or flexible work schedule.
How can you create a positive work environment if you don’t know your employees? Especially when the creation of integrated sales teams is in question, you will need to be aware of the strengths, weaknesses and skills of each one of your team mates. Instead of blindly following other companies’ best practices, you need to focus on creation an open communication and find out what your employees are looking for in their work environment.
Talent has become fleeting. Hiring costs are higher than retention costs. Each employee should receive a fair compensation of their work and benefits package. At the same time, your top performers should be recognized and rewarded to keep them competitive and engaged at their workplace. Setting aside the mandatory commissions and benefits packages, show your best employees that you value them by asking for their input when it comes to decision, work processes and business directions.
We are drawing close to the end of the year, a good time to look back and figure out if there is a need to remove unnecessary cost in your business. Remove unnecessary cost in a company always implies a good management of resources and a healthier operation. Especially in times of economic uncertainty, it’s recommended to carefully spend only on strategic areas and optimizing the cost all over the operation.
Looking into your operational needs, in term of human resource and time spent on each task, enables you to quantify the needed resources for the whole organization.
The first significant change that you will notice after eliminating unnecessary cost is the degree of organizational disruption. However the positive 4 elements that will impact your actions are as follows:
Shifting mind-set of employees from a growth economy trend to a more challenging or in a recession mode will need a medium to long process transformation, while consistently focusing on important and clear objectives set by the CEO and the board of directors.
A successful company is the one that works on operational optimization, through the implementation of strategic planning and simplicity. Your human resource should be a central part of your strategic plan because it is your most expensive resource and you need to take care of it to beat the competition.
In a business environment where 55% of employee lack basic skills, and where today education has become very expensive i.e. an example of an increase in cost in the UK Universities from 0 -GBP12,000 over the last 2 years, will make companies face shortage in talent and organisations will be forced to invest internally in their adult learning. Companies must have a long-term consistent strategy of building capabilities, which means long term and more work.
When it comes to the choice of removing unnecessary cost and driving revenue, a good management vision and a clear understanding of medium to long term organization objective is a success factor in itself. Smart companies should be focusing in maintain their margin, and their positioning as a leader while removing unnecessary cost. This will definitely lower the risk of losing business to the competition and making sure to give long life to their organization.
How does it work in your business? And what are the elements that will challenge you to reduce cost and drive revenue. Send us an email.