Many workforce key performance indicators (KPI) are tied to critical corporate training goals. It can be difficult to gather and synthesize such KPI into meaningful results without an effective business analytics capability in your Learning Management System (LMS). This business analytics function should enable a more granular view of training effectiveness, rather than just training ROI or other overly-simplistic metrics.
Imagine instead a human capital performance measurement tool that shows the true effect that corporate training has on goals such as: employee turnover, production quality, safety, customer satisfaction, customer loyalty, or high performer turnover.
Using “high performer turnover” as an example, perhaps we suspect that the unusual turnover of our high performers indicates serious underlying employee job dissatisfaction. Thus we identify high-performer turnover as one of our KPI and monitor it. We ultimately determine that the turnover rate is indeed increasing, creating a need for more data showing which factors are the cause. One factor could be poor employee development because it often ranks as a top reason for employee job dissatisfaction. Using a properly designed business analytics tool, we can identify and mitigate it by getting even more granular. Is the root cause minimal training hours or reduced learning expenditures? Is it ineffective instructors or the lack of elearning content? With a proper model implemented, such correlations can be ascertained quickly.
An LMS with a business analytics feature is critical for a deeper and more thorough understanding of how training and other personnel development factors affect the overall health of the business. Without such capability, critical training data may not be available which detrimentally affects the company.
Stay tuned to Gyrus Systems for more information.