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Training is a reactive process to build the skill levels of your employees.
This sounds like a good thing for you to invest in. Things are always changing, and you need to keep up, right?
The problem arises when you see little ROI in the short term and virtually no ROI in the long term. Here's why your ROI may be low and what you can do to realize a return on your training investment.
In order for the training to be effectively retained by the person receiving the training, it has to be delivered in a manner that will be retained by the employee. Why not take a look at a different delivery method the next time your employees need training?
The Basis for Training ROI
Many trainings are done by group seminar or workshop. Did you know that an individual retains approximately 16% of a seminar or presentation the next day. As time goes on, that retention decreases. Why? Here are the reasons:
- Inappropriate delivery method, a.k.a. the seminar approach is not the right way to deliver the message of the traiining
- Insufficient understandiing by management of the training needed
- Inadequate engagement of the intellects of your employees in the training itself
Throwing Mud at the Wall...
An October 20, 2010 article from The McKenzie group sheds some light on the steps you should take to validate your investment in training.
After you read the McKenzie document, I'm sure you'll agree the concepts are solid, maybe you'll even have an aha moment. But then that skeptical little voice in the back of your head will say, "Sure. Those are good steps to take. But how do I do it? And when do I do it?"