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About return on investment (ROI)
As Canadian e-learning specialist in the corporate and higher learning sectors Paul Stacey said: "E-learning isn't just about ethics training and learning the latest Microsoft product. It's about improving the bottomline."
Harvey Samuel Firestone (1868 to 1938) had recognised this correlation many years before. He is credited as saying: "It is only as we develop others that we permanently succeed."
Benefits of ownership
Our own experience at Edutech is that where we work with the learners or users of the resources we create, ownership of the material is much higher. When the resource is complete and loaded onto the intranet, or printed, laminated and delivered to work stations, operators check out the material. True, they are looking to see that we included their recommended changes, but the effect is that they feel they 'own' the resources rather than the resources have been imposed on them by management.
Even the process of consultation with employees heightens awareness of health and safety requirements or quality assurance measures. We keep on asking those 'dumb' or not-so-dumb questions, such as: "What protective gear should you wear when you do that?" "How do you measure how much oil to add?"
Attitude change
Most of the feedback we have received about our work in manufacturing and community health is anecdotal and more about a change of attitude, which is hard to measure as return on investment (ROI). When it comes to convincing senior management to invest in writing up formal procedures or creating training courses to fit your needs, you need hard facts.
Now we could tell you all sorts of benefits that will impact positively on your ROI, but we'd rather you checked out what others have said so eloquently before us.
Take a look at some of these articles:
| Link to | Description |
| How do I measure return on investment (ROI) for my learning program? | Article by Marcia Conner from Learnativity.com. You may find a number of useful articles on this site |
| E-Learning Return On Investment (ROI) | Paul Stacey discusses the benefits of e-learning - what else! |
| Defining your readiness | Article by Patti Phillips, CEO of The Chelsea Group, an international consulting and research organisation focused on accountability issues within organizations, and author of The Bottom Line on ROI co-published by the Center for Effective Performance and ISPI (2002) |
Templates/calculators to use:
| Link to | Description |
| Download a ROI Calculator | An ROI calculator based on Excel spreadsheet. You can buy a licence for $US50. Please Note: This listing does not imply that Edutech KM endorses or in anyway benefits from this calculator. |
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ROI calculator templates for a number of different business proposals, including one for training and IT initiatives. |
| Defining your readiness | Article by Patti Phillips, CEO of The Chelsea Group, an international consulting and research organisation focused on accountability issues within organisations, and author of The Bottom Line on ROI co-published by the Center for Effective Performance and ISPI (2002) |
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Edutech KM Ltd
PO Box 25-241, Victoria Street, Christchurch;
phone: 64-3-337-0234
fax: 64-3-337-0235
info@edutechkm.com
Copyright to Edutech KM Ltd 2008
