Chapter ONE: Identifying the map
For the first time in history, humanity shares a common agenda, based on sustainability and targeted use of resources. Digitalization supports us in creating the required know-how and in getting the desired insights… a process that requires creativity and outstanding problem solving skills.
In Learning & Development, this means getting a deeper understanding of:
- How to cover the different training needs;
- How to tackle and balance different levels of prior knowledge;
- How to face possible resistance towards digitalization – remotely!
- How to guarantee support and individual inclusion for the learning team.
Now take a closer look at your training catalogue. How will you be able to turn those bulky initial training programs into lean and individual learning experiences?
How will you know which training method is the most efficient and the cheapest?
A single or right answer to this does not exist, but with a lot of patience and a systematic approach, you can really professionalize your training’s team and catalogue.
Most importantly, we would like to start identifying how much a training costs. This is an exercise that requires good nerves, especially if you, like most L&D specialists, have never found yourself in the position to demonstrate that training has indeed an impact on ROI and efficiency! Learning & Development is everyone’s focus at the moment, so our answer to this question also needs to be irreproachable and based on solid data analysis.
For this, different categories of cost generators must be taken into account and differentiated as follows:
- Fixed costs/one time costs: anything whose value is not related to a quantitative use. When analysing software licences, for instance, we won’t be able to define how much of a licence price has actually been used or amortized during a specific training. This type of cost must be calculated differently.
- Variable costs: depending on the duration of a certain training, we can calculate the exact costs connected to its conception, production and delivery, both from the point of view of the employee and of the trainer.
- Finally, we will analyze relevant non-monetary parameters and their weighting on the whole picture we will obtain.
First we got your curiosity, now did we get your attention too? Stay tuned for more insights soon. And of course, feel free to comment and leave your feedback below!
