Are you wondering how your company can stay ahead of the competition? Are you ready to appear out of any corner of this globalized world? The answer is you have to become a rapidly learning organization that actively embraces learning across all levels. It’s an essential shift that needs careful implementation –– and the best solution to welcome change and thrive in the fast-paced modern world.
The critical factor for the long-term success of any organization is its ability to set strategic goals to deal with the ever-changing business environment. This is why dedication to corporate learning is crucial.
CILS
The Continuous Integration of Learning and Strategy (CILS) process describes the relationships between strategy and learning as essential partners in a corporation. Corporate learning explains in detail how to allocate resources to make the set goals cost-effectively.
While in theory, the benefits of a learning organization can be clear, in reality, such organizations are usually criticized for not contributing clearly to the profit. Identifying the return on learning investments is generally more complicated than the return on material investments.
So how can ROL be measured? Here are the key metric approaches that help to understand the financial effect CILS has on the bottom line:
Macro
To measure general ROL, the team needs to check the ROI of the organization a few years before it introduced a learning organization. Then, the financial team should compare them to the reports from the first two years after the transition to CILS to get an understanding of how the change impacted the overall ROI. In the end, the most current performance report, created after CILS had been introduced, will offer a picture of the present ROI.
Micro
The micro approach measures the ROL of specific CILS programs created to achieve strategic goals. When the CEO approves the expenditure for the specific learning program, the financial team can supervise its success based on cost and benefit. A successful result indicates a strong return on learning without a doubt. The micro approach isolates the CILS as a factor and evaluates its direct impact on ROL.
There are four metrics that measure the ROL:
1. Financial Performance
Approved investments should be able to achieve a planned financial return. In learning organizations, CILS programs are used in the assessment of financial performance.
2. Productivity
Productivity is vital for any organization and is directly connected to financial performance. The more products and services a company produces, the more profit it gains. CILS programs also have a direct impact on higher productivity in a learning organization.
3. Targeted Skill Development (TSD)
The development of staff provides all kinds of benefits to the corporation. Employees deepen their skills and become more effective. Coaching and mentoring can help develop new managers and in-house experts. This is an important metric in evaluating ROL.
4. Growth Catalyst
One of the most important goals of any corporation is growth, and CILS is a catalyst for this goal. Learning programs help some of the areas such as product development, expansion, and building on existing staff. The success of this growth is directly connected to the role of CILS.
Measuring both the positive and negative ROL is necessary for the continued funding of learning organizations. Still, a constant assessment of the efficacy of learning initiatives is also at the very core of CILS.
Discover the best way to develop a learning organization, consistently connect with your leadership team, and predictably turn them into highly engaged employees. Call me for some complimentary advice. Book an appointment at https://go.oncehub.com/GregNichvalodoff or call me at +1 (604) 943-0800.
