ROI of online training is a hot topic right now. What is really important to note is that measures to maximize ROI must not be handled in isolation. Instead, they need to be an integral part of the cycle that begins with your Training Needs Analysis (TNA), determining the training format (online, blended, or ILT), learning strategy, and evaluation.
In this article, I will outline tips and best practices that you can use to maximize the ROI of online training.
Let me begin with two extracts from my earlier article, How To Measure The ROI Of Online Training to set the baseline:
Definition of ROI: ROI is the return on investment that an organization makes (ROI = Gain or Return/Cost). It can be determined through two factors namely the Investment made (or cost incurred) and Value/Gain accrued (or return). A successful eLearning initiative should be able to demonstrate gains that are more than the investment.
ROI Methodology: I had also highlighted the commonly used ROI methodology that you can use. This is Kirkpatrick’s model of evaluation.
In this article, I will outline 6 tips that you can use to maximize ROI of online training. You will note that each of these tips will influence different levels of Kirkpatrick’s model of evaluation.
These measures are easy to implement and will also enable you to assess the impact of each measure from Level 1 to Level 4.
I hope this article provides easy to apply measures that can provide a step up in your organization to create a high impact learning strategy and positive ROI on online training initiatives.
We, at EI Design have a focus group that will work with you in determining your custom methodology to measure ROI. Additionally, we will work with you to identify and implement the success factors that will enable you to maximize the ROI of online training.
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