ROI holds significant importance as a metric for assessing the effectiveness of Learning and Development, or L&D initiatives. However, accurately determining the true ROI entails more than mere numerical calculations. Learning and Development is the most direct route to aligning capabilities to business goals.
In 2023, measuring the ROI of L&D is crucial to tracking impact, especially with respect to revenue and profits each year. But new metrics like increased sales during training, greater employee confidence in role and lower employee churn are worth considering. At the same time, old metrics like number of people that attended a training or how many people traveled for professional development matter less.
Just 8% of L&D teams calculate their ROI. Furthermore, only 10% of the money spent on traditional L&D delivers any tangible results for companies. To effectively measure your L&D ROI, you need to acquire a corporate learning program with purpose, accessibility, and science-backed content like Arist.
Arist is a science backed micro-learning platform designed to meet learners where they are. It is used by 15% of Fortune 500 companies and can help measure ROI through revenue by attaching value to modern KPIs. It costs less while also saving time and energy.
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Source: Arist