Measuring the benefits - quantitative indicators
Experience shows that quantative results can be more difficult to measure.
Qualitative results are easier to measure – you will intrinsically know your business has improved as a result of the training. But what you want to measure is by how much it’s improved and, if possible, what the dollar value of the gain is.
This could be in terms of:
- less wastage
- fewer accidents
- a better relationship with your key customers
- a more engaged and happy workforce
- producing more product, more quickly and accurately.
The key thing is to set the objectives you want your training to achieve and apply benchmarks early so you get useful data you can then analyse. We suggest selecting three or four key metrics (preferably information that you already collect)
The Balanced Scorecard framework is a useful way to think about these indicators.