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If we truly embrace our people as our most valuable corporate asset, invest in them as we would to maintain and grow physical assets, and surround them with opportunities to acquire new skills that directly align with corporate goals, the return on learning investment will naturally find its place among our top business KPIs, according to Andrew Temte, president and global head of corporate learning at Kaplan North America.
Creating an environment for effective learning measurement
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I’ve spent most of my working career within the realm of professional education, focused on helping individuals achieve “yahoo!” moments in their lives through the attainment of industry-recognized licensures, designations and certifications. In this corner of the educational landscape, the measurement of learning efficacy boils down to a fundamental relationship between the credential and its ability to signal workplace competency, which ultimately unlocks new opportunities and improves the recipient’s lifetime earning power. In relative terms, the progression is simple: The learner does research (in consultation with mentors) and decides on the credential that fits with their career aspirations, fills any minimum requirement gaps, registers for the exam, studies a prescribed curriculum and passes the test. The process is deemed successful as doors open and pay and responsibility improve. Examples of industry-recognized credentials include CPA, CFA, PMP and a host of other acronyms.
In contrast, learning and development within an organization is more likely to be viewed as a cost and not an investment due to the lack of direct evidence that learning interventions lead to a demonstrable improvement in skill and competency for the learner or cohort and that skill improvement is tied to better organizational performance...
Changing the equation
One of the reasons learning takes a backseat to more tangible areas of the business is that it’s deemed to be unmeasurable. As a result, companies don’t invest what they should to maintain and grow their most valuable asset. Instead, learning is viewed as a cost and is the first thing to go when times get tough.
How can we align our actions and words with regard to our most valuable asset? How can we change the perception of learning and begin viewing it as an investment?
Source: Chief Learning Officer
