Does your organization struggle to directly tie learning and development programs to your financial outcomes? Do your biggest challenges include disengaged and non-productive employees? An increase in turnover rates? Low customer satisfaction ratings?
According to Gallup, 18% of today's employees are actively disengaged, resulting in significant costs for companies from lost productivity, increased turnover, and decreased customer satisfaction. Estimates put the overall organizational costs at 34% of the total disengaged population's annual salary. This results not only in significant costs but also in significant risk to the company’s strategic goals. Re-engaging even a modest number of employees can have a measurable impact on the bottom line.
Use our interactive tool to see how much your company is losing to disengagement and the ROI of re-engaging your employees through training investments.
Take the first step to improving your ROI of training by taking a hard look at your current L&D programs. Do you feel your employee training is less effective than your competitors? Be truthful about the effectiveness of training programs and what is currently lacking. Understanding what makes great training programs great requires understanding what makes other training programs fail to keep employees engaged and excited to learn. Maximizing effectiveness means analyzing past L&D training initiatives and determining what has not worked based on business outcomes.
According to Statista, companies in the US increased their training expenditure by $200 million in 2023 compared to 2022, making nearly a doubling of their investment since 2012.
With increased L&D investments, we want to ensure the training is as effective as possible to maximize ROI and business outcomes.
Business leaders must see L&D as a strategic investment, not a cost center! Instead, consider the costs involved in not having a well-rounded training program that covers a wide range of topics.
We have identified multiple methods that have led to positive outcomes, particularly those involving ongoing microlearning that incorporates employee learning goals with company business goals. They’re the companies that have stellar customer service, sport a spotless safety record, and nurture and grow their talent year after year. It only makes sense that they have high engagement and employee retention rates and see the monetary value of their L&D training initiatives.
Research shows four factors that have the biggest negative impact on training solutions:
#1: Focusing exclusively on providing required compliance training and nothing more. When employees are exposed only to mandatory training, there’s bound to be resistance, leading to an overall ineffective program. HSI’s course library has rich, diverse, and relevant topics to help employees branch out and learn new skills in innovative ways. Our microlearning allows time for ongoing training regardless of a busy schedule.
#2: Using “one-off” training that is easily forgotten. If new information is applied or built upon in a meaningful way, it is more likely to be retained. HSI offers ongoing learning tools to keep employees in a growth mindset and build knowledge over time.
It is a common myth that only 10% of organizational training translates to on-the-job changes in behavior. The real rate of transfer may be as high as 62%.
#3. Failing to link the content to the employee's career success and advancement. Maximizing the ROI of training and preparing employees for a bigger role go hand. We give employees autonomy with self-directed learning allowing them to create their own goals and execute them in a way that works for them.
#4. Information overload with little to no organization or curation. Content needs to be doled out in a digestible way with proper curation and organization of training materials. HSI takes pride in the careful curation of content to make course options easier to navigate in the learning management system (LMS).
Almost 54% of organizations are not creating learning strategies that consider technology changes.
We have worked with many companies who wanted to change their employee training methods. Here are several business success stories showing how your L&D professionals can increase your business impact by implementing effective training solutions with lasting results.
WakeMed Health faced the challenge of providing learning and development opportunities for its overworked staff while maintaining high-quality patient care. Our microlearning courses, including leadership development and inclusion training, offered an accessible solution that engaged 86% of their workforce, enhancing skills, fostering an inclusive culture, and supporting continuous professional growth.
Ciena needed an engaging, flexible learning solution to support their People Promise commitment to well-being, personal growth, and inclusion for their workforce. We developed "Branch Out," a user-friendly learning hub with bite-sized, impactful content, achieving 83% employee engagement and helping foster continuous learning experiences.
Atlantic Health System needed a flexible inclusion training solution for its diverse workforce, with employees in varying roles and schedules, making traditional classroom learning impractical. We provided a custom, enterprise-wide education hub offering bite-sized inclusion lessons, fostering engagement and improving inclusion conversations, internal mobility, and employee well-being, earning them recognition with a Silver Brandon Hall HCM Excellence Award.
Companies with high-impact learning cultures are 92% more likely to be first to market with an innovative product or service, have a better track record for delivering quality products, and maintain an overall 56% better response rate to customer needs.
According to Accenture, the average ROI for training is 353%, meaning that companies receive a return of $4.53 on every dollar spent on training, a significant positive impact on investment.
Time is money, and getting a better return on investment means finding the most efficient training option. Use HSI’s handy ROI calculator to calculate your return on investment using online L&D training.
You’ll start to see both intangible benefits and a tangible return from l&dL&D training initiatives in the following areas:
According to Gallup, three top reasons for disengagement are lack of clarity, connections, and opportunities.
HSI helps solve these challenges by developing and delivering brand-new content every day that directly supports individual, team, and organizational success. HSI clients who use our article-based training see a median engagement rate of 71% with our microlearning content.
When employees engage with HSI’s self-directed learning, they gain valuable workplace skills, feel connected to their company’s mission and values, and indicate 86% more confidence in their own decision-making. Our content is designed to empower your people to invest in their growth, their organization, and each other.
Request a consultation to learn valuable insights on how HSI can help you boost ROI and improve your training program and bottom line.
“Clients return year over year as they are impressed with the engagement and results that they see.” — Gemma Brooks, HSI VP of Operations