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HR strategyLearning & developmentTraining management

Training professionals must grasp ROI to secure funding

by Personnel Today 19 Apr 2005
by Personnel Today 19 Apr 2005

Trainers need to understand return on investment (ROI) to generate funding.

Training professionals have been responding in the wrong way to top executives for years and need to speak the language of finance, according to a leading expert in measurement and evaluation.

Jack Phillips, chairman of the US-based ROI Institute, told delegates at the HRD Conference in London last week that return on investment is the language that chief financial officers (CFOs) understand.

“ROI is about accountability of what we – learning and training professionals – are doing in the organisation,” he said. “It is a good term to use with CFOs as it is the language they understand. They are looking more closely at the value of investments and can be an ally to training departments if [it is clear these departments] understand ROI.”

Phillips, a former training and development manager at two Fortune 500 firms, said learning was so critical to an organisation’s progress that there was a real need to achieve a higher form of evaluation.

“An ROI analysis earns the respect of senior management and improves support for training and learning departments,” Phillips said.



Personnel Today
Personnel Today

Personnel Today articles are written by an expert team of award-winning journalists who have been covering HR and L&D for many years. Some of our content is attributed to "Personnel Today" for a number of reasons, including: when numerous authors are associated with writing or editing a piece; or when the author is unknown (particularly for older articles).

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