Return on Learning (ROL): More Than a Boring Statistic
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Transcript of Return on Learning (ROL): More Than a Boring Statistic
Return on Learning (ROL):More Than a Boring Statistic
Thursday, July 19, 20123:45 – 4:45 p.m.
Tweet! Tweet!
@AaronWolowiec of #EventGarde is discussing return on learning at the 2012 #ISAEConvention. #gameon #awesome #rockstar
Fast Forward
Before the Conference
Learning Goals• Knowledge/skills• Agenda/program• Distractions
Relationship Goals• Needs/insights• Qualify contacts• Reciprocity
During the Conference
• Breakouts• Hallway
conversations• Back of the Napkin
(see: DanRoam.com)
• Networking breaks• Meals/receptions• Keynotes• Special events• Social media
Write down all potential action items.
After the Conference
• Review notes• Categorize ideas –Doable* – Significant payoff**
• Refine ideas• Implement ideas• Accountability
Worksheet
• Action
item
• Resource
s needed
• Completi
on date
Road Map
• ROI vs. ROL• Case studies• “What’s in it for me?”• Learning organizations• Discussion• Wrap-up
Return on Investment (ROI)
• A performance measure used to evaluate the efficiency of an investment.
• ROI = X 100Revenue – InvestmentInvestment
Return on Learning (ROL)
• A derivative of ROI used to evaluate the efficiency of an organization’s learning investments.
• ROL = X 100Total Benefit – Total CostTotal Cost
Case Study: ISAE Convention
Training Costs• Registration fees• Training materials• Transportation– Mileage– Parking
• Lodging • Meals • Opportunity costs
Perceived/Actual Benefits• Session content – Tools– Technologies – Processes
• Association contacts• Supplier contacts• Best practices • Skill development
Case Study: ISAE Convention
Short-term Value• Contacts• Ideas• Goals• Objectives
Long-term Value• Strategy• Tactics• Products• Services• Profit
Case Study: NSA Convention
Costs for attending the meetingTotal benefits from ideas implemented • 3 bookings at $2,500 each• 6 months of increased product sales • Savings on printing with new vendor
= $ 2,000= $ 10,000• = $ 7,500• = $ 2,000• = $ 500
ROL = X 100 = 400%$10,000 - $2,000$2,000
“What’s in it for me?”
• Volume of education programs • Important to:– Understand ROL– Leverage ROL
• Outcomes:– Perceived value – Program attendance– Bottom line
Attendee Goals
Organization
Goals
Value
Examples Courtesy:Preliminary Program for the AHCA/NCAL 63rd Annual Convention & Expo
Tips for Maximizing Staff ROL
1. Development plans:– Individualized for each employee – Specific leadership competencies – Position, team, organization and profession
2. Management champions:– Support employee learning
3. Application of learning:– Classroom, workplace and relationships
Learning Organizations
• Improved decision-making skills• Future cost savings• Increased productivity• Higher quality work• Better efficiency
Staff Learning Investments
• The right thing to do.• Effects on business performance are
cumulative. • Financial return on investment.• Multidimensional return: – Culture– Reputation– Productivity
Deficient Learning Practices
• Poor quality• Inefficiency• Low staff morale• Communication issues• Turnover• High recruitment costs
Food for Thought
1. How does your organization leverage ROL when marketing programs and events?
2. How does your organization support the process of continuous learning?
Wrap-up
• Learning/aha moments• Facebook or
business card:– Slide deck
• Consulting coupons:–Planner: $500– Supplier: $250
Content Resources
• NSA, Learning Goals and ROA. (2012). www.mynsa.org/portals/0/documents/ ROA.pdf
• Return on Learning (ROL): More Than a Boring Statistic. (2012). www.aaronwolowiec.com
• Case studies courtesy of: ISAE, MSAE, MACPA, NSA, AHCA and NCAL.
Contact Information
Aaron D. WolowiecMSA, CAE, CMP, CTAFounder & PresidentEvent Garde LLCPhone: (616) 710-1891Email: [email protected]: www.eventgarde.comFacebook: www.facebook.com/EventGardeLLC