Measuring return on investment in training has become a big issue - partly because trainers now have to prove real benefits to cash-strapped organizations. This is an introduction to a difficult topic, and it seeks to help trainers and senior resource staff understand how to assess both the tangible and intangible benefits of their training programmes. Featuring detailed worked examples showing how all aspects of training effectiveness can be monitored and assessed, the text dispels the significant myths that get in the way of a successful evaluation of the economics of training and performance improvement.

Understanding the Basics of Return on Investment in Training : Assessing the Tangible and Intangible Benefits

Business & Money

Patricia Pulliam Phillips

Human Resources

Kogan Page, Ltd.

The Phillips ROI MethodologyT utilizes five levels of evaluation, which are essential in determining the return on investment. At Level 1 - Reaction and Planned Action, attendee and stakeholder satisfaction from the meeting can be measured. Almost all organizations evaluate at Level 1, usually with a generic, end-of-meeting questionnaire. While this level of evaluation is important as a "stakeholder" satisfaction measure, a favorable reaction does not ensure that attendees have acquired new skills, knowledge, opinions or attitudes from the meeting. At Level 2 - Learning, measurements focus on what participants learned during the meeting using tests, skill practices, role-plays, simulations, group evaluations, and other assessment tools. A learning check is helpful to ensure that attendees have absorbed the meeting material or messages and know how to use or apply it properly. It is also important at this level to determine the quantity and quality of new professional contacts acquired and whether existing professional contacts were strengthened due to the meeting. However, a positive measure at this level is no guarantee that what was learned or whether the professional contacts acquired will be used on the job. At Level 3 - Job Applications, a variety of follow-up methods can be used to determine if attendees applied on the job what they learned or acquired at the meeting. The frequency and use of skills are important measures at Level 3. While Level 3 evaluations are important to gauge the success of the meeting, it still does not guarantee that there will be a positive business impact in the organization or for the attendee. At Level 4 - Business Results, the measurement focuses on the actual business results achieved by meeting participants as they successfully apply the meeting material or messages. Typical Level 4 measures include output, sales, quality, costs, time and customer satisfaction. Although the meeting may produce a measurable business impact, there is still a concern that the meeting may cost too much. At Level 5 - Return on Investment, this ultimate level of measurement compares the monetary benefits from the meeting with the fully-loaded meeting costs as expressed in the ROI formula. All levels of evaluation must be conducted in order to determine the ROI of a meeting or event. The data collected should show a chain of impact occurring through the levels as the skills and knowledge learned (Level 2) are applied on the job (Level 3) to produce business results (Level 4). * Introduces and demonstrates Jack J. Phillips's well-established ROI measurement methodology * Addresses the growing demands from stakeholders to prove the value of meetings through data * Endorsed by MPI (Meeting Professionals International)

Return on Investment in Meetings and Events: Tools and Techniques to Measure the Success of all Types of Meetings and Events

Jack J. Phillips

M. Theresa Breining

Industries

Routledge

The Value of Learning is a hands-on guide for the implementation of learning and development programs that can be applied across all types of programs, ranging from leadership development to basic skills training for new employees. In this book, Patti Phillips and Jack J. Phillips offer a proven approach to measurement and evaluation for learning and development that can be replicated throughout an organization, enable comparisons of results from one program to another, and ultimately improve ROI.

The Value of Learning: How Organizations Capture Value and ROI and Translate It into Support, Improvement, and Funds

Management & Leadership

Pfeiffer & Co.

Value For Money

Project Management Roi

Wayne Brantley

Wiley & Sons, Incorporated, John

Maximizing the Value of Consulting: A Guide for Internal and External Consultants

William D Trotter

wiley

Written by two of the world's most well-known ROI (Return On Investment) gurus, this guide is indispensable for anyone involved in implementing major non-capital investment projects. These range from human capital programs to marketing initiatives, technology implementations, systems integrations, quality and lean processes, public health initiatives, procurement procedures, public relations events, risk management policies, economic development programs, corporate social responsibility projects, public policy programs, branding activities, innovation programs, customer satisfaction projects, or any type of project where significant expenditures of time and money are at stake. In a step-by-step process the book shows how to measure the success of the programs, including measuring impact and ROI (Return On Investment). This book also shows how to forecast the value of the project in advance and how to collect data during and after project implementation. It addresses improvements throughout the process so that the project delivers optimum value. In addition to businesses, this book is appropriate for governments, NGOs, nonprofits, universities and healthcare organizations. As a reference for those who are seeking ways to assign value to what they have measured, the book will clarify and resolve much of the mystery surrounding the conversion of data to monetary values. Building on a tremendous amount of experience, application, practice, and research, the book will be based on the work of many individuals and organizations, particularly those who have been reaching the ultimate levels of accountability using the ROI Methodology. Developed in an easy-to-read format and fortified with examples, tips, and checklists, this will be an indispensable guide for those who seek to understand accountability issues.

Value for Money: How to Show the Value for Money for All Types of Projects and Programs in Governments, Non-Governmental Organizations, Nonprofits, and Businesses

Wiley-Scrivener

Return on Investment in Meetings & Events

Taylor&Francis

Since the publication of Measuring Return on Investment, Volume 1 the interest in measuring the return on investment (ROI) in training and performance improvement continues to grow. Volume 1 filled an important void in the training literature. Published in 1994, it remains one of ASTD's all-time bestsellers. Volume 2, published in 1997, demonstrated further progress with measuring the return on investment in a variety of programs. 
Measuring Return on Investment, Volume 3 presents a variety of approaches to evaluating training and performance improvement programs in HRD. Most of the cases focus on evaluation at the ultimate level-ROI. Collectively, the cases offer a wide range of settings, methods, techniques, strategies, and approaches. Although most of the programs focus on training and development, others include organization development and performance management. As a group, these cases represent a rich source of information about the strategies of some of the best practitioners, consultants, and researchers in the field.

Measuring Return on Investment, Volume 3 (In Action)

ASTD Press

Evaluation is key to proving the value of training, yet many organizations still struggle with implementing a fully functioning evaluation program that is integrated throughout the learning process. This title is designed to break through organizational inertia and is structured to allow both selective exploration of the topic by seasoned professionals or beginning-to-learning experiences for the less experienced practitioner.

Make Training Evaluation Work

Toni Krucky Hodges

Association for Talent Development

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Books by Patricia Pulliam Phillips