Forecasting the Value of Training
Performance Improvement Article
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The Predictive Evaluation (PE) Model is a training and evaluation approach with the element of prediction that allows trainers and business leaders to predict the results, value, intention, adoption, and impact of training to make smarter, more strategic training and evaluation investments. The PE Model is invaluable for companies that struggle to define the success of training, fight to justify its value, or view training as an expense rather than an investment with predicted return.
In the Performance Improvement Journal article, I showcase a case study involving the Vice President of Talent at a global Fortune 100 company, who had to justify the value of a company leadership college that she was overseeing. When leadership cut the company's training budget to fund other projects throughout the organization, this VP used the PE Model to forecast the value that her Business Acumen Training would provide to the company. When I met with this VP, she asked me if my approach could predict the financial benefits from Business Acumen Training and set metrics to predict training success in relation to intention (motivation to use on the job), adoption (application or transfer to the job), and impact (tangible organizational results). My answer was yes, and together, we used Predictive Evaluation to demonstrate how this training was an investment with a predicted return. As a result, this VP was able to save $600,000 from being cut out of the program, and many employees were able to benefit from this training.
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