3 tips to help you get the budget you need to digitize learning
The pace of digitalization and learning has never been as high as it is now, and a deeper and lasting shift is taking place. Here are some tips to help you get the budget you need for your learning project.
A recent report (Fosway Group, next gen learning, covid 19-research) says that the effects of Corona mean that L&D will never be the same again. 94% in L&D have changed their strategy. Two out of three have made significant changes in what they do and how they do things. It’s clear that there is still a lot of potential to develop our way of working. The report has a few highlights on the ongoing pandemic:
- The digital degree of maturity matters. More mature organizations are twice as successful in dealing with this situation.
- Although 59% believe that their organization is immature, the crisis has helped accelerate the digital transformation in general.
A common challenge we face is that Learning & Development managers don’t get the attention or sufficient budget means to digitize or develop learning projects. This can be a consequence of the complexity of the process, how the ecosystem of tools and platforms is applied, or different perspectives.
By daring to ask the right questions and changing the argumentation, your department can get the attention it needs. Learning and improved processes can pay off many times over, and can lead to a measurable business value.
1. Put measurable business value first
The classic, convenient way of following up on learning looks to participants’ activity, implementation and commitment. But how much actionable conclusions can you draw from the number of logins or time spent, if you do not relate that information to measurable effects in the business?
It is very concrete but more challenging to instead analyze how performance and learning culture creates business value in a learning initiative. By defining and measuring KPIs focused on business value and ROI, you can get the attention of management team and your stakeholders.
Stepping out of the comfort zone and putting business value first, instead of focusing on classic learning metrics, results in a number of improvements. The report The Transformation Journey 2019 Overton, published by Emerald Works, mentions a few of those outcomes:
- 14% increase in productivity
- 28% higher rollout speed on new initiatives
- 21% higher customer satisfaction
- 11% increase in revenue
When you make your case on a business basis, you will make better decisions for your learning investment.
2. Communicate and define clear KPIs
Agree on clear and measurable KPIs that are relevant to your stakeholders. Communicate so that everyone understands, and decide how to follow up. When everyone understands and knows what is expected of them, you can act on insights, and be proactive.
At project starts with our customers, we establish a number of criteria. For example, defining a successful outcome in the learning process. What needs to be measured, and why? What business value should the investment result in? Measurability, communication and follow-up are a must to avoid failed learning initiatives.
Measurability allows you to give your stakeholders a receipt that the investment is bearing fruit.
3. Investments in learning platforms and processes matter
Investing in, and developing your learning platforms drives business value and quality, and eliminates manual processes that cost money and lead to errors.
Modern platforms and relevant content give you the opportunity to better reach your target group. A modern LCMS can simplify or even automate volume tasks such as translations and quality reviews.
With good system support, you can make time to concentrate on the important things: your content and your learners.
We can help.
We support our customers before, during and after a learning project and purchase of a platform. Get in touch with us and we will tell you more.
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