7 Ways To Make Business Impact Of Learning Programs Better- MeasurableShowcasing how your program has impacted your organization's business is where the buck stops, when it comes to measuring its effectiveness.As a continuation to my previous post on tackling challenges in measuring impact of a learning intervention, here are a few practical tips for quantifying the impact of a program. The Quantifiable ROI.
From our archive: One of our pharma clients classified doctors into Class A, B and C, in descending order of the doctors’ potential prescription volume of their product category.However, in a spree to meet their target of 6 doctor visits a day, their medical representatives met an average of 3 class C doctors, 2 class B doctors and only 1 class A doctor a day, leading to a lot of sales effort for little return. The reason this happened was that Class A doctors were usually present in larger, super-specialty hospitals, and it was difficult for the sales executive to gain access to them, or engage them in a proper conversation when meeting them. This could have been avoided if they received inputs on why it was more important to meet Class A doctors and engage better with them.
From our archive: Abbott PPD wanted their managers at various levels across all BUs to be vigilant and focus on two key attributes- driving profitability and improving cash flow. We designed an intervention that explained the why, what and how of key metrics to participants at all levels. After reviewing the post six months report, the Country Manager felt that even at the field sales level, people were able to take the right steps to increase average selling price, reduce discounts and credit period to distributors, resulting in better profitability and cash flow.
We had a situation where one of our participants, the supply chain manager at a leading tyre manufacturing company was analysing impact of schemes on the sales to distributors, only to realize that the billing software did not prevent duplicates from appearing in the invoicing data, and hence a lot of data was meaningless and misleading
This one works- You could try and validate participant feedback on implementation with their reporting managers. This not only builds authenticity, but also helps you understand whether it can be correlated directly to the learning program or is there an external (positive or negative) factor causing the effect.
Six months after our Intervention on Product Management for a German architectural hardware firm, our long standing client for whom we do in-house business consulting as well, we went back with the impact analysis report to the CEO. During the 6 month duration of the intervention, the product managers reduced slow-moving inventory by 56%. However, the CEO said he would call the intervention successful only if the product managers developed the habit of tracking inventory every week without follow-ups from top management. It had to become a natural part of their planning, even when no one was monitoring them. Point noted!
Hope this posts helps in raising the "ROI" bar for your next programs. Don't forget to share how it goes!