The saying “If you’re not moving forward, you’re moving backwards” is never truer than in business. To keep on top and stay ahead of your competitors, you need to be constantly looking to improve your current position. A very common way to do that is through training.
Troublingly though, only 20% of what is taught in a training room is ever actually implemented in most business. Imagine only using 20% of the fuel your car! You could also think of it as costing 5 times more than you paid given you only use one fifth.
The only way to increase the return on your training investment is to ensure the learnings and skills are fully utilised within your business in a timely manner.
A conscious decision to commit to a 12 month implementation programme and being held strictly accountable can take this figure from just 20% to over 90% – accelerating and amplifying your results.
The steps to maximise Training ROI are:
- Understand – Make sure you understand implicitly what you have been taught.
- Apply – Adapt the new skills to your business situation. Make sure you know exactly how they fit with what you do and how will improve your performance and results.
- Timetable – Work out where you are going to be utilising what you learnt and timetable that into your schedule so that you know there are times where you are going to really focus on your training and implementing that into your business.
- Expect some hiccups – All change comes with the odd pot hole. Expect that there may be times when it seems easier or faster to revert to your previous way of doing things. At that time be steadfast on utilising the new skills.
- Practice – The more you use your new found skills the more efficient and comfortable you will become. This process will change their use from a conscious decision to a habit.
- Be accountable – Whether it’s to yourself, your team or your business mentor. Structured accountability to the implementation goals you set around your training will accelerate the process and amplify your results.
By adhering to these 6 steps, you will absolutely maximise your ROI from your training spend.