ADDING VALUE & ROI

Adding Value 

Sadly added value and measuring the ROI from training are fast becoming one of those overdone phrases repeatedly uttered in discussions and meetings with everyone nodding in agreement yet rarely defined and even more rarely ever measured. We are passionate about adding value to your investment in training and development and this is how we do it.

Firstly we are crystal clear about what added value actually means and have defined it thus…

• Added value is achieved when benefits are generated over and above the core item being purchased.
• Added value is the addition of incremental value generated by the contribution of knowledge
• Added value is achieved by generating an incremental output without the need for incremental investment.

Here are some examples of how through the careful structuring of learning and outputs we achieve substantial added value for your investment.

1. Take for example F&I (Finance and Insurance products). It is possible to source F&I learning from a variety of sources who will doubtless do a good job in terms of accurately providing knowledge and thus skills. Your employee returns to the business a veritable font of knowledge around F&I matters. Was that what you wanted and will that achieve the ultimate goal, which we suggest is to generate incremental measurable income through the sale of F&I? The same princiapl applies to op0erational finance and so on.  Everything leasrnt needs to be applied so that an increment can be achieved.

Our approach is to deliver multiple benefits to you from your investment. Not only will we deliver and measure incremental knowledge but also we will show delegates how to link the application of this knowledge to the sales process at the right time to leverage interest. We will teach techniques which will build customer buy in and thus impact conversion rates and profitability and finally we will discuss with the business the best practice methods which will ensure that F&I specialists work collaboratively with sales teams and of course vice versa.

Essentially you receive 3 benefits from one investment. It is quite common for businesses to pay for F&I training, then again under separate cover for sales techniques and process and then again for someone to consult and advise on referral methods. Having made these 3 separate investments actual implementation becomes difficult because the synergies between the 3 events might be difficult to realise.

ROI.

The holy grail of training and development investment. Whilst even we don’t have the unified and absolute answer to the conundrum this is how we approach it and believe that we have come much further than most in helping you to leverage your investment in training with your management colleagues.

Opening status of delegate…hardly ever established in metric terms. Whilst a TNA might help point you in the right direction it’s often not a definitive position from which ROI can be progressed. Our learning provides you with an opening metric for individual skills Closing status of delegate immediately following learning. We test the same competencies post learning to establish skills growth and provide you with this information.

Delegate “buy in” to learning. Isn’t it amazing that happy sheets remain the key vehicle for measuring this? Yes we do happy sheets but with a difference…we explore with each individual just how bought into the learning they are by identifying what they propose to do with it (if they are bought in) and what they perceive the challenges to implementation might be when they try. Transfer of knowledge and therefore the ability to identify ROI can only really take place once knowledge is actioned through conscious behaviour and conscious behaviour becomes subconscious habit. We believe that the latter should be the aim of all development and we will show you how to do it and how to measure the benefits. There are 2 main considerations in our approach to measuring the value of your investment.

• Establishing the length of time it takes to re-pay the initial investment
• Agreeing a specific time duration over which a longer term ROI calculation can be applied