Learning and development (L&D) serves as the primary avenue to align employee abilities with business goals. Annually, millions of workers engage in L&D programs, ranging from compliance to reskilling. Post-COVID-19, corporate investment in learning and development has surged, underlining its relevance in today’s rapidly changing business environment.
Interestingly, return on investment (ROI) assessment in learning and development, pivotal for tracking impacts on profits and revenues, is performed by only 8% of L&D teams. This leaves a striking 92% of programs bereft of success indicators. Yet, considering the myriad costs involved, it is crucial to calculate the true ROI, which should account for time, effort, and financial investment. To illustrate, creating a mere 20-minute corporate learning content can take between 55 and 177 hours.
Moreover, traditional training methods often deliver unsatisfactory outcomes, with only 10% yielding tangible results. Regrettably, ineffective training proves costly, draining $13.5 million per 1,000 employees. However, the narrative can shift positively. For every dollar dedicated to learning and development, studies demonstrate a revenue upsurge of $4.70, affirming the importance of a strategic learning approach.
Enter Arist, a scientifically grounded microlearning platform, offering modern key performance indicators (KPIs), convenience, and purpose-driven content. With Arist, corporations can significantly save time, money, and effort, while optimizing their L&D ROI, thereby transforming their financial blueprint.
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Source: Arist