Managing Training & Return on Investment (ROI)

Objective:

The Managing Training and ROI course is based on accomplishing these objectives:

• To increase the delegate’s knowledge of:
  • Meeting the organization’s competency/skill needs
  • Providing a focus for workforce demographics, retirement projections, and succession planning
  • Providing a clear rationale for linking expenditures for recruitment, training, employee development, retention, and other human resource programs to the organisation’s long-term goals and objectives
  • Providing managers with tools to address changes in program direction that impact the type of work being performed
  • Assisting managers in creating a high-quality workforce capable of continually growing and changing
  • Assisting managers in identifying partnering, outsourcing, delayering, and reorganizing opportunities
  • Improving the organization’s brand and the market perception of the enterprise’s long-term viability
  • Meeting strategic, operational, and tactical goals
• To improve skills in:
  • Diagnosing and solving training issues
  • Building individual capacity and being able to measure the return on investment
  • Continuous Improvement
  • Written and oral communication
  • Critical thinking and analysis
  • Tracking and Measuring Performance

Content:

Strategic Direction Setting

• Our Current Challenges
• Identify Parameters for your Workforce Planning Model
• Clearly understand why you are doing workforce planning
  • Identify resources available
  • Adapt models, strategies, tools, and processes to your organizational environment and needs
  • Concentrate on planning outputs that are organizationally meaningful and which support program objectives, budget requests, staffing requests, and strategic plans
  • Training, coaching, technical assistance, and other support as offices prepare to use models, strategies, and tools
  • Begin with a set of assumptions that set the scope of workforce planning within an organization

Supply, Demand, Discrepancies

• Using the 10 Key Element Strategic Questionnaire
• GAP Analysis
• GAP Calculation
• GAP Prioritization
• Design a workforce plan to address skill gaps
• Using a Skills-Knowledge Database
• Identify Strategy and Action Items
• Management, Leadership, and Support
• Recruiting, Hiring, and Placement – foundations for skill gaps
• Training as part of your Retention Strategy

Developing an Action Plan

• The cost associated with the strategies for addressing competency or skill gaps
• How to keep corporate knowledge from being lost?
• What skills are currently vital to the accomplishment of the organizational goals and objectives?
• How is the organization addressing skill imbalances due to attrition, including retirement over the next 5 years?
• Are there ways to maximize recruitment in order to minimize training needs of new employees?
• Explore training, retraining, relocation, or recruiting options for filling competency gaps
• What retention strategies are necessary and most feasible?
• What are the costs of these retention strategies?
• Cost-effectiveness of contracting, outsourcing, or using volunteers
• Implementation of career development programs

Implement the Action Plan: Monitor, Evaluate, Revise, Improve

• Review performance measurement information
• Assess what is working and what is not working
• Adjust the plan and strategies as necessary
• Address new workforce and organizational issues that occur
• Communicate changes needed
• Criteria for measuring training success

Return on Investment as a Measure

• Forecasting and Measuring Costs
• Forecasting and measuring benefits
• Calculating return on investment
• Making ROI work for you