Importance of tracking training metrics... efficiency and effectiveness
Very often when we think of tracking metrics around training initiatives, we think about costs; are we getting the value that we want from our training practices, instructors, venues and equipment? What can we do to be more efficient? Every organization has a different approach and values training differently, from simple on the job training, to comprehensive self-directed and instructor led programs to enhance development.
Regardless of the complexity, all training initiatives should be tracked not just for efficiency but also for effectiveness. How do you know if your training programs are effective if we only look at metrics that evaluate how training impacts the bottom line? The measurement of training initiatives needs to measure both efficiency and effectiveness. One without the other is only half way there.
For example, are your employees satisfied with current training programs; are they taking what they have learned and applying it directly to their position (effectiveness) and are all training programs meeting critical strategic and business goals on time and within budget (efficiency)? If you are not able to answer these questions now, you need to be. We have said many times before that creating metrics for the sake of creating metrics do not add value.
When creating any type of metric and in this case training specific metrics, you need to ensure that your measurements tie back to your organization’s overall strategic objectives.
If one of your strategic initiatives is to reduce turnover and ensure an active, highly engaged workplace, you need to evaluate your training programs to ensure that your programs are helping you achieve it. How satisfied are your employees with your training programs? What courses do they feel will help them grow their career?
If another strategic objective is to reduce costs by creating a lean environment with reduced redundancies, you need to measure and ensure that your training programs costs and processes are streamlined.
How do you create metrics that evaluate all the above? Stay tuned for Training Part Two when we review how to design key training metrics for your organization.
Adequasys HRIS has key training metrics that are pre-designed to help you meet your strategic business goals. Ask us how