Putting a Value on Training

Here’s an article from McKinsey Quarterly’s July 2010 issue, “Putting a Value on Training” (Click on the title to download the article). Jenny Cermak and Monica McGurk, talk about generating value for your organization and increasing performance. Below are two excerpts from the article:

“A retailer pursuing better customer service and sales growth, for example, could train employees by getting its managers to provide real-time coaching and to role-model best-practice customer-engagement techniques. Rather than just measuring the managers time allocation or employee-engagement data—as most would do now—the retailer should measure the impact of its programs through hard business metrics, such as sales, basket sizes, and conversion rates in critical categories or departments.”

“By tying the curricula of training more closely to key performance metrics and then measuring its impact on them, organizations can generate greater value from training programs and find useful insights to improve programs constantly.”

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