In order to have an L&D budget approved by a C-level, the ROI of a learning solution must be clear. By proving that the digital learning experience is moving revenue, customers, operations, innovation, and regulatory compliance, L&D professionals will be able to explore new innovative solutions.
L&D leaders of today must work with the C-Suite to align learning objectives with wider business goals, meticulously measuring the impact that new solutions deliver and drawing decisions from this data. The future of corporate training will involve bringing learning and performance initiatives closer to the overall business strategy.
LinkedIn's first annual Workplace Learning Report, published this week, found that Chief Learning Officers (CLOs) face increased pressure to deliver learning that engages employees and positively impacts the bottom line. Companies are looking for proof that their investment is paying off in terms of increased workforce performance. The report also shows that 90% of business leaders believe learning and design programs are key to closing skill gaps. However, only 8% of CEOs in the report said they saw the business impact of L&D programs. Even fewer (4%) saw a clear ROI.