What Should Be The Key Performance Indicators for Training & Development?
To assess the outcomes of any training program, it is important to define the key performance indicators (KPI) at the very beginning of the training program. To achieve the best return on investment, measuring the growth and success of the program becomes critical.
The new program is designed keeping in mind the objective and the goal that you would finally look at. The tried and tested way to ensure that you are on the right track is to define the KPIs and see if you are achieving the desired goals.
If you have an existing program that you have been using but have not defined the performance indicators, get in action immediately to implement the same. If you have defined the key performance indicators, you are on the right track. It is equally important to revisit them from time to time based on job roles, teams, and overall organizational goals.
Leverage technology to track these KPIs with the help of an effective LMS system for example Discoverlink. Manual tracking consumes a lot of your time and might look very complicated. The KPIs should primarily focus on driving business goals while keeping up with time and change in technology.
The faster the learning, the sooner will you achieve the results. Ensure that the program is in an easy-to-learn format and is highly engaging. With the help of the dashboard of LMS, you can analyze the average time taken and the time taken by an individual employee to complete the course. A detailed report will help you understand the module-wise time taken based on which you can improvise your content or the delivery method.
An important indicator of the effectiveness of the training program. If the information is not engaging or cannot be implemented easily in practical scenarios, the learner tends to forget it quickly. Applying microlearning concepts can make the training more effective producing better results. The difference between the pre and post-training assessment can help in measuring the same.
The training and development programs are designed with a focus on organizational and business goals. Be it customer service, sales, or compliance, the training must enhance the required skill based on the role the employee is handling. If the trainees show a positive improvement in their performance, it indicates that the program is on the right path.
Transfer of Training:
What is the purpose of the training program? The final purpose is to implement the learning in the practical scenario to achieve the required organizational goals. Gamification, case studies, on-the-job training, digital training can help you achieve and assess this KPI.
Trainee’s Feedback: Applying the Net Promoter score philosophy to check how effective and informative your program has been and how likely is it that they will recommend it to their peers, will indicate the effectiveness of your training program.
Stakeholders Approval Seal:
It is the business manager who finally assesses if the employees are able to transfer the knowledge and skill learned during the training program to their roles. By training the employees, you in turn are contributing to their goals. Business managers will be the ones responsible for the performance of the employees thus the seal of approval is a critical KPI to consider while formulating a training program. The best way to achieve this is by doing the training-need-analysis (TNA) and aligning it with the goals and expectations of the managers even before starting the program.
Good and effective training will not only contribute to the organizational goals but will ensure to keep the employees engaged by developing them for growth and success within the organization. This will lead to a reduction in employee turnover rates and enhance employee retention.
Conclusion: Mentioned above are some of the key performance indicators for an effective learning and development program. Little attention to these details with the help of an effective LMS will lead to a successful training and development program.