In an ever-evolving business climate, learning and development (L&D) has emerged as a fundamental pathway to bridge employee skill sets with business targets. Millions of staff members annually participate in L&D initiatives, which have gained even more prominence post-COVID-19 as businesses amplify their investment in training. However, a staggering 92% of learning and development programs lack success metrics, highlighting a critical need for robust ROI analysis.
The formula for calculating the return on investment (ROI) may seem straightforward, but it involves considering time, effort, and financial input. The creation of a short corporate learning segment, for instance, can demand 55 to 177 hours. Moreover, traditional learning pathways may require employees to forgo productive work hours. The fiscal implications of L&D are substantial, encompassing not only direct costs but also secondary ones, such as transportation and accommodation for in-person training. Interestingly, online alternatives might not necessarily offer a cheaper solution.
Despite these significant investments, the results are often underwhelming, with only 10% of traditional learning and development expenditures delivering measurable outcomes. Yet, a strategic approach to L&D can transform this narrative. Research indicates that for each dollar spent on learning and development, revenues can increase by $4.70, suggesting enormous potential if the right tools are employed.
Enter Arist, a scientifically backed microlearning platform, designed to meet learners at their comfort levels. Arist can help redefine the learning and development landscape by saving time, effort, and financial resources while enhancing the return on income of corporate learning. This innovative approach can reshape the economics of corporate education, instilling greater confidence in employees, boosting learning adoption rates, and accelerating content creation speed.
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Source: Arist
