NEWSLETTER - OCTOBER 2015
A unique approach to
Calculating a Financial ROI on Learning Change & Development
It’s time to stop talking about it and time to start doing it !!
i.e. calculating a genuine financial return on investment on learning, development, organisational change, coaching or e-learning. After 4 years of painstaking research Verax enables you to do so.
How does it work?
You recruit staff so that they will add value, i.e. make a contribution to the organisation.
Change, learning and development (in any form) should be to enable them to make a greater contribution to the business.
So, we measure the financial value of their contribution before the intervention. We then measure their contribution at an appropriate point after the intervention. The difference, divided by the cost, gives you a financial R.O.I.
What do you get ?
How different is it ?
All data collection and calculations are done on-line.
Participants need 10-15 minutes pre- and post- the intervention to complete data collection. Other respondents need no more than 5 minutes pre- and post- intervention for data collection.
All calculations are completed automatically and reports are available virtually instantaneously.
Verax will train your internal staff to administer and interpret reports so that you get the most valuable information from them.
Results achieved elsewhere
• One client was able to justify a new training centre on the basis of calculating the ROI on their work.
• A leadership programme delivered by one provider delivered an ROI of over £20,000 per participant per annum. Another provider delivering the same programme produced an ROI of only £1800 per participant per annum.
• A County Council showed an ROI of over 10:1 for a leadership programme that the accountants wanted to stop because of its cost!
• Learning and development programmes with no relevant measure/diagnostic, produce a very low (sometimes negative) ROI. Those with a relevant self-assessment produce a moderate ROI. Those with a relevant 360 show the best ROI of all.