Employee engagement metrics
Effective learning and development initiatives correlate with positive success metrics. The employee experience is of paramount importance when considering the efficacy of a company’s investment into an LMS or training program. Therefore, monitoring the following metrics can help companies gain better insight into the engagement and productivity of a workforce:
- Employee retention rate
- Time to productivity
- Training participation rate
- Performance data
Metrics like these provide a baseline understanding of employee engagement within an organization, as well as how a learning initiative helps or hurts that baseline. HR professionals can also track and spot spikes in usage, social activity, or performance boosts within an LMS. Isolating the root cause for such fluctuations can help identify what is working well and what the driving forces were.
Learning and development requires a significant investment. The C-suite should measure the ROI of a program in order to weigh their options. Business leaders should compare sales and costs against projected outcomes to see if a certain solution makes sense to implement from a cost standpoint.
If it doesn’t, the options are simple: either develop a plan that costs less or increase revenue such that a costlier investment becomes feasible. For lean businesses, this is a delicate balance. In many cases, a cloud-based LMS provides a more economical alternative due to its cost-effective, scalable nature. Smaller businesses can invest in solutions that grow with their business, and subsequently their talent management budget.. More immediately, HR professionals can calculate the ROI of their current program based on this cost-benefit model. If the numbers don’t add up, it’s a sign to take a closer look at learning initiatives.
Constructive feedback goes a long way when analyzing the success of corporate training. Feedback leads to improved processes, whether it stems from an in-depth evaluation of a particular program or tool, or a more informal survey emailed to a department or specific employee. No one gets it right on the first try. Involving learners in the process helps keep them engaged, which is a business-critical priority.
Be sure to ask specific, relevant questions and provide instantaneous opportunities to ask questions or make suggestions. This ensures learners are engaged with training content and are providing meaningful commentary. Feedback not only points to markers of success, but it also provides valuable insights that help enrich content and create a more personalized learning experience.