5 Key Performance Indicators to Gauge Training Success
After spending several hours and committing resources to develop your training module, evaluation is the key to determining whether it did well or requires further alterations. Instructional designers often evaluate training success by seeking answers to the questions such as: Did the learners benefit from the course? Were the learners able to apply the takeaways from the course in their job? Did it have any positive impact on the business? Although these close-ended questions seem reasonable, a yes or no answer won’t add qualitative and quantitative value to your evaluation.
To gain better insights into training success, you need to consider both qualitative and quantitative metrics in the form of key performance indicators (KPIs).
KPIs are a tool that can help you track and measure the performance of your goals—which is to develop a successful workforce training program. When developing training KPIs, ensure they align with your business goals. Let’s look at five KPIs that can help gauge training success.
Time to proficiency
In today’s fast-paced world, the sooner employees learn, the sooner they can generate results, making time to proficiency a prime indicator to gauge training success. A way to analyze this is by using the reporting feature in the LMS to see the time taken by each learner (individual) to complete their training.
Humans tend to forget any newly-acquired information. This indicator helps us to evaluate the information learners retain post-training. We can analyze knowledge retention by comparing the results pre and post-test.
Transfer of training
The objective of most corporate training is to impart the knowledge from training and put it to work, which makes the transfer of training another important KPI to gauge training success. Real-life scenario-based assessments, simulations, and manual observations are a few ways to determine this KPI.
Influence on company’s performance metrics
An organization may deploy its corporate training program for several reasons, compliance, to increase sales, or to improve employees’ performance. Therefore, the success of any training program benches on the positive impact it has on the company’s performance metrics post-training. Gauging the difference in the company’s performance metrics before and post-training is a way to determine this KPI.
Net promoter score
In business today, customer satisfaction can be a factor in uplifting your business. Net promoter score (NPS) is a rating system (usually on a scale of 1 to 10) in which customers rate the likelihood they would recommend the services or products of a company to their families, friends, or network. The same rating concept can apply to employees asking about the likelihood of them recommending the training to colleagues at work. This KPI can provide employee feedback on training effectiveness.
Using these five KPIs, you can develop an efficient learning strategy that will allow you to deliver a successful training program. To find out how KnowledgeWorks Global Learning can help your organization develop an effective training program, contact us at email@example.com.