Protecting Your Learning and Development Budget in Difficult Times: Seven Actions to Take Now

Speakers

Jack phillips
Chairman, ROI Institute, Inc.
Patti smaller
CEO, ROI Institute
Webinar Recording Details
  • Date and Time
    Fri, May 22, 2020 at 9AM Pacific / 12PM Eastern
  • Duration
    1 Hour
  • Cost
    $0 (Free)
  • Want Access?
    Register to view the recording.

Description

As a result of the COVID-19 crisis, many executives, including JP Morgan CEO, Jamie Dimon, predict the global economy will be in recession for the rest of 2020 and perhaps even into 2021. Consequently, many organizational leaders will conduct top-to-bottom reviews of programs in an attempt to cut budgets and save money. Are you prepared to show how your major programs drive the business in this new post-pandemic world? Implementing or using some of the concepts of the ROI Methodology now can safeguard your budgets during and after this time of uncertainty.

Will your learning and development budgets survive? Organizational leaders must perceive L&D as an investment and not a cost. If leaders see learning as a cost, they will control it, reduce it, or perhaps even eliminate it. This results in weak partnerships, diminished influence, decreased support, and reduced funding. If L&D is seen as an investment, leaders may maintain it, enhance it, and maybe even protect it. In addition, it also helps build business partnerships, improve client relationships, and increase funding. What is the best way to convince executives that L&D is an investment? The answer is simple. Measure the return on investment of a major program using a standard ROI calculation.

The value of learning and development is described using five levels of outcomes:
1. Reaction to the program
2. Learning new knowledge and skills
3. Application of new knowledge and skills
4. Impact from application
5. ROI

Executives would like to see impact and ROI for major programs.

Actions to Take Now

This webinar focuses on seven actions you can take now to protect your L&D budget.
1. Measure the impact and perhaps ROI of a major program now.
2. Ensure that virtual learning is effective.
3. Update your measurement and evaluation strategy.
4. Design future programs to deliver results.
5. Capture more executive-friendly reaction measures.
6. Be prepared to forecast the impact and ROI of a major initiative.
7 Share the joy of delivering and measuring business results.

About Jack Phillips, Ph.D.

Jack J. Phillips, Ph.D., chairman of the ROI Institute, is a world-renowned expert on accountability, measurement, and evaluation. Phillips provides consulting services for Fortune 500 companies and major global organizations. The author or editor of more than 75 books, he conducts workshops and presents at conferences throughout the world. Phillips has received several awards for his books and work. The Society for Human Resource Management presented him an award for one of his books and honored a Phillips ROI study with its highest award for creativity. The American Society for Training and Development gave him its highest award, Distinguished Contribution to Workplace Learning and Development for his work on ROI. Jack and his wife Patti Phillips were the first recipients of the Center for Talent Reporting’s Distinguished Contributor Award. This award recognized their outstanding and significant contributions in the measurement and management of human capital. Jack’s work has been featured in the Wall Street Journal, BusinessWeek, and Fortune magazine. He has been interviewed by several television programs, including CNN. 

About Patti Phillips, Ph.D.

Patti P. Phillips, Ph.D. is CEO of ROI Institute, Inc., the leader in measurement, evaluation, and the use of ROI in learning and development. The author or editor of more than 75 books, Patti conducts workshops and presents at conferences throughout the world. Patti serves on the board of Center for Talent Reporting and is an ATD CPLP Certification Institute Fellow. She also serves on the faculty of the UN System Staff College in Turin, Italy, and The University of Southern Mississippi’s Ph.D. in Human Capital Development program, where she helps human resources and learning practitioners develop capability in measurement, evaluation, and human capital analytics. Her work has been featured on CNBC, EuroNews, and in over a dozen business journals.  

Recording

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