return on learning (rol): more than a boring statistic

Return on Learning (ROL):More Than a Boring Statistic

Thursday, July 19, 20123:45 – 4:45 p.m.

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@AaronWolowiec of #EventGarde is discussing return on learning at the 2012 #ISAEConvention. #gameon #awesome #rockstar

Fast Forward

Before the Conference

Learning Goals• Knowledge/skills• Agenda/program• Distractions

Relationship Goals• Needs/insights• Qualify contacts• Reciprocity

During the Conference

• Breakouts• Hallway

conversations• Back of the Napkin

(see: DanRoam.com)

• Networking breaks• Meals/receptions• Keynotes• Special events• Social media

Write down all potential action items.

After the Conference

• Review notes• Categorize ideas –Doable* – Significant payoff**

• Refine ideas• Implement ideas• Accountability

Worksheet

• Action

item

• Resource

s needed

• Completi

on date

Road Map

• ROI vs. ROL• Case studies• “What’s in it for me?”• Learning organizations• Discussion• Wrap-up

Return on Investment (ROI)

• A performance measure used to evaluate the efficiency of an investment.

• ROI = X 100Revenue – InvestmentInvestment

Return on Learning (ROL)

• A derivative of ROI used to evaluate the efficiency of an organization’s learning investments.

• ROL = X 100Total Benefit – Total CostTotal Cost

Case Study: ISAE Convention

Training Costs• Registration fees• Training materials• Transportation– Mileage– Parking

• Lodging • Meals • Opportunity costs

Perceived/Actual Benefits• Session content – Tools– Technologies – Processes

• Association contacts• Supplier contacts• Best practices • Skill development

Case Study: ISAE Convention

Short-term Value• Contacts• Ideas• Goals• Objectives

Long-term Value• Strategy• Tactics• Products• Services• Profit

Case Study: NSA Convention

Costs for attending the meetingTotal benefits from ideas implemented • 3 bookings at $2,500 each• 6 months of increased product sales • Savings on printing with new vendor

= $ 2,000= $ 10,000• = $ 7,500• = $ 2,000• = $ 500

ROL = X 100 = 400%$10,000 - $2,000$2,000

“What’s in it for me?”

• Volume of education programs • Important to:– Understand ROL– Leverage ROL

• Outcomes:– Perceived value – Program attendance– Bottom line

Attendee Goals

Organization

Goals

Value

Examples Courtesy:Preliminary Program for the AHCA/NCAL 63rd Annual Convention & Expo

Tips for Maximizing Staff ROL

1. Development plans:– Individualized for each employee – Specific leadership competencies – Position, team, organization and profession

2. Management champions:– Support employee learning

3. Application of learning:– Classroom, workplace and relationships

Learning Organizations

• Improved decision-making skills• Future cost savings• Increased productivity• Higher quality work• Better efficiency

Staff Learning Investments

• The right thing to do.• Effects on business performance are

cumulative. • Financial return on investment.• Multidimensional return: – Culture– Reputation– Productivity

Deficient Learning Practices

• Poor quality• Inefficiency• Low staff morale• Communication issues• Turnover• High recruitment costs

Food for Thought

1. How does your organization leverage ROL when marketing programs and events?

2. How does your organization support the process of continuous learning?

Wrap-up

• Learning/aha moments• Facebook or

business card:– Slide deck

• Consulting coupons:–Planner: $500– Supplier: $250

Content Resources

• NSA, Learning Goals and ROA. (2012). www.mynsa.org/portals/0/documents/ ROA.pdf

• Return on Learning (ROL): More Than a Boring Statistic. (2012). www.aaronwolowiec.com

• Case studies courtesy of: ISAE, MSAE, MACPA, NSA, AHCA and NCAL.

Contact Information

Aaron D. WolowiecMSA, CAE, CMP, CTAFounder & PresidentEvent Garde LLCPhone: (616) 710-1891Email: aaron@eventgarde.comWeb: www.eventgarde.comFacebook: www.facebook.com/EventGardeLLC