Predicting Training’s Value

When we predict training’s value , we use a form of business forecasting—estimating what training will deliver in terms of increased organizational and business results. These predictions come in the form of participant Intentions , Adoption in the workplace, resulting Impact on the business, and the costs to deliver the value. These predictions enable decision makers to make highly informed, proactive decisions .

As with any business forecasting method, predicting training’s value has benefits and drawbacks that need to be weighed before proceeding.

The benefits of predicting training’s value include:

• It aids in decision making (whether a business should move forward with training).
• It provides input, allowing for smarter, more strategic decisions about planning and resource allocation (people and budgets).
• If data is high quality, it can create an accurate picture of the future.

Its drawbacks are:

• Data is not always reliable or accurate.
• Data may be outdated.
• Qualitative data may be influenced by peer pressure.
• External factors may be out of the business’s control (e.g., economic policy, competition, and political developments).

The Impact Matrix - the Output of Predicting Training's Value

The Impact Matrix is a rectangular array of Intention goals & beliefs, Adoptive behavior examples, business results, and external contribution factors that, when combined using certain rules, predict the Impact from training. It’s usually created by a Steering Committee of subject matter experts and key decision makers, drawing a direct link from training to business impact.

Sample Impact Matrix for a Business Acumen Training Course

Click To Englarge

ROI of Training