In this episode, we are joined by Tara Cohn. Tara is a Director at Wipfli, a Data Storyteller, and Analytics Translator! Together we discuss how to go from order takers to business partners, helping stakeholders & L&D identify and measure outcomes, and telling a better story with data that inspires the business to take action.
Everything you do to impact profit - primarily increasing sales or reducing expenses, including cost of goods sold - influences the bottom line of your income statement. - Seeing the Big Picture by Kevin Cope
Do you consider the impact on capacity and efficiency of your organization when developing learning experiences? Whether you measure it or not, the decisions you make as a learning professional have a direct impact on the bottom line of your organization. Time spent learning, while worthwhile, impacts time spent selling, developing products, and supporting customers.
Here's a quick example
Imagine that you have a 30 minute elearning course, that's all employees must complete every year, to protect against legal issues. If you have 1,000 employees in your organization that's 30,000 minutes (min) per year spent training for this course.
1,000 employees X 30 min = 30,000 min of productivity
30,000 min / 60 min per hour = 500 hrs*
500 hrs / 8 hours per work day = 62.5 work days!
*Not including any time lost due to task switching.
In 3 years time, that's 187.5 work days spent on this course alone!
The cost of this time spent may pale in comparison with the cost of a multi-million dollar legal action. However, that doesn't mean your hands are tied. You can take action to improve efficiency of your learning experiences and return capacity to your employees.
Two options to impact the bottom line
Take action now!
Trust me, when you ask someone if their project is worth 500 hours of Operations capacity, they'll think really hard about their answer.
Engaging people leader and accomplished Instructional Designer with over 15 years of experience creating effective learning solutions and building innovative learning teams.
© John Parsell and johnparsell.com, 2018 - 2022.