As a result of the COVID-19 crisis, many business executives, including JPMorgan Chase’s Chief Executive Officer Jamie Dimon, predict the global economy will be in a recession for the rest of 2020 and perhaps even into 2021. Consequently, many organizational leaders will conduct top-to-bottom reviews of programs in an attempt to cut budgets and save money. Organizational leaders must perceive L&D as an investment and not a cost. Are you prepared to show how your major programs drive the business in this new post-pandemic world? Implementing the seven actions outlined below can safeguard your budgets during and after this time of uncertainty.
Actions to Take Now
This webcast focuses on seven things you can do to protect your L&D budget.
1. Measure the impact and perhaps ROI of a major program now.
2. Ensure that virtual learning is effective.
3. Update your measurement and evaluation strategy.
4. Design future programs to deliver results.
5. Capture more executive-friendly reaction measures.
6. Be prepared to forecast the impact and ROI of a major initiative.
7. Share the joy of delivering and measuring business results.
This interactive webcast will explore each of these strategies and provide tips and tools to use them so that when the crisis ends, and we face a new normal, your budget is protected and learning can thrive, even in a downturn.
Objectives
After attending this session, participants should be able to:
1. Identify the five levels of outcomes for any L&D program.
2. Describe what types of data executives want to see from L&D.
3. Explain 10 of the 12 steps in the ROI methodology.
4. Name five key elements of an evaluation strategy.
5. List three ways to make reaction data more executive friendly.
6. Describe how an ROI forecast is developed.
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Phillips has received several awards for his books and work. On three occasions, Meeting News named him one of the 25 Most Powerful People in the Meetings and Events Industry based on his work on ROI. The Society for Human Resource Management presented him an award for one of his books and honored a Phillips ROI study with its highest award for creativity. The American Society for Training and Development (now ATD) gave him its highest award, Distinguished Contribution to Workplace Learning and Development, for his work on ROI. The International Society for Performance Improvement presented Phillips with its highest award, the Thomas F. Gilbert Award, for his contribution to human performance technology. In 2019, he, along with his wife, Patti P. Phillips, received the Distinguished Contributor Award by the Center for Talent Reporting for their contribution to the measurement and management of human capital.
Phillips, who earned his doctorate in human resource management at The University of Alabama, has been featured in the Wall Street Journal, BusinessWeek, and Fortune magazines, and he has been interviewed by several television networks, including CNN. Phillips also served as president of the International Society for Performance Improvement.
Patti P. Phillips, CPLP (now CPTD), is the chief executive officer of ROI Institute, the leading source of ROI competency building, implementation support, networking, and research. She helps organizations implement the ROI methodology worldwide. Phillips provides consulting services to Fortune 500 companies and facilitates workshops for major conferences throughout the world. Her work has been featured on CNBC, EuroNews, and in more than a dozen business journals. Phillips, who earned her doctorate in international development at The University of Southern Mississippi, is author, co-author, or editor of more than 75 books and dozens of articles focused on measurement, evaluation, accountability, and ROI.
She serves as a member of the board of trustees for the United Nations Institute for Training and Research (UNITAR) and is chair of the People Analytics Board at the Institute for Corporate Productivity (i4cp); principal research fellow for the Conference Board; board chair of the Center for Talent Reporting (CTR); and is an ATD CPLP (now CPTD) Certification Institute Fellow.
