From the course: Organizational Learning and Development
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ROI of learning: Focusing on business-relevant results
From the course: Organizational Learning and Development
ROI of learning: Focusing on business-relevant results
- Now let's dive into something that's always buzzing in executive meetings, and it's become a big deal in the world of L and D too, return on investment. ROI isn't just about money. It's about delivering results that matter and helping your company make real tangible progress. Although every company has its own strategy and priorities, there are some measures that matter to all companies. Here are a few examples. Increased productivity, higher sales and revenue, cost savings, employee engagement, customer satisfaction, skills to succeed, and talent retention. These are huge for business, and the great news is that you and your team can impact every one of them. A perfect example is talent retention. A recent Mercer study showed that the average voluntary turnover, that is talented people you want to keep in the company, but who chose to leave, sits at 17.3%. To put that in perspective, if you work in a company with about 5,000 employees, you could expect to lose 865 every year to…
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