McLean & Company's latest resource aimed at demonstrating the financial impact of learning & development
McLean & Company, a global HR research and advisory firm, has emphasized the critical need for Human Resources to quantify the return on investment (ROI) for Learning & Development (L&D) initiatives.
Its new guide sheds light on the often-overlooked value of measuring learning effectiveness, urging organizations to view L&D not just as a cost center but as a potential profit generator. This approach, the firm argues, is essential for demonstrating the HR function's contribution to organizational success.
The firm's latest resource, Guide for Measuring Learning Effectiveness, points out the common challenge L&D teams face: the struggle to showcase the link between employee development and the financial health of the organization.
Traditional methods for assessing learning outcomes tend to be subjective, failing to convincingly tie L&D efforts to the organization's bottom line. McLean & Company's guide aims to change this narrative by offering actionable strategies for evaluating learning impact more comprehensively.
Janet Clarey, McLean & Company's Learning Solutions practice lead, criticizes the prevailing methods for evaluating L&D effectiveness, advocating for a holistic view that considers both the learner's experience and the broader organizational benefits.
To facilitate this, the guide proposes a structured three-step process for L&D leaders:
- Establish the Purpose: Begin with a clear understanding of why the learning solution is being measured, linking it directly to specific learning and organizational goals.
- Identify Key Players: Determine who within the organization should be involved in the measurement process to ensure a comprehensive evaluation.
- Integrate Perspectives: Incorporate insights from various stakeholders, such as the chief learning officer and managers, to assess different facets of the learning experience and its outcomes.
By adhering to these steps and engaging relevant parties early in the process, L&D leaders can select measurement techniques that align with their strategic objectives, taking into account constraints like time, budget, and resources.