Well, one way to know that is by measuring and analyzing your custom eLearning ROI. By so doing, you can be able to know whether or not you’re delivering the right content to your employees.

In this article, we’ll be looking at a few ways to measure and analyze custom eLearning ROI for better results. However, before we go into that, let’s have a look at the benefits of measuring and analyzing your custom eLearning ROI.

What’s custom eLearning ROI?

One can define the custom eLearning ROI as the ratio of your net income and cost of investment. So, having a high ROI means that your investment is yielding profit compared to its cost.

The purpose of custom eLearning ROI is to measure performance and evaluate the efficiency of training investment. It also enables organizations to decide whether or not to invest in a particular program/training.

Benefits of measuring and analyzing your custom eLearning ROI

Measuring and analyzing custom eLearning ROI is essential to the operation of any enterprise. That’s because it enables organizations to evaluate their performance and determine the profitability of investing in training.

With analysis, organizations can also determine how individual aspects of an operation are performing. That means they can easily cut down or improve on any part of the operation that’s not bringing more returns on investment.

Measuring and analyzing your training should aim at answering the following questions;

• Do your employees acquire new skills and knowledge necessary to help reduce costs and make them more productive at your organization?

• Is there a way you can measure the training cost against the benefits to both the organization and the employees?

How to measure and analyze the ROI of training

Let’s start by asking this question, how do you measure success? Well, we can do that through the expansion of Kirkpatrick’s model of analyzing and evaluating the results of training.

With the five levels of evaluation, you can easily measure and analyze the return on investment of your online training.

Level #1: Employees experience

This level is essential as it lets you know whether or not your learners find the training relevant. You can always measure the success of your training through your employees’ experience.

So, ensure you ask questions like; was the training relevant to employees’ expectations, and can it help them become more productive? You can get answers to these questions by creating post-training surveys or assessments/quizzes.

Level #2: Learning

You can also measure learning to know if your employees gained the knowledge and skills identified in your training. This level is essential as you can be sure that your learners will be able to apply what they learned on job tasks.

Level #3: Behavior

Behavior level is a vital level to evaluate success as it helps to validate the investment made by your organization. You can ask the following questions to measure your employees’ behavior; Do they understand how to apply knowledge gained on job tasks?

How many times have they been able to apply what they learned on job-related tasks? Is there anything hindering them from applying the knowledge?

Level #4: Impacts on business

This level measures the final results of your employees taking part in the training. It clearly shows that you’ve achieved your desired learning outcome.

To measure your success, you must know whether or not the training is impactful on your business.

You can do that by checking how the implementation of the program has affected metrics like productivity, sales, operating costs, employee retention, and engagement.

Level #5: Return on investment

Having been able to touch the four levels of Kirkpatrick’s model of evaluation, you should be able to measure your custom eLearning ROI.

All you need is to answer the following questions; Are the monetary benefits of improving your business through training higher than the cost of the learning program?

A practical approach to applying ROI to your custom eLearning

Irrespective of the type of training you’re interested in giving out at your organization, it’s essential that you calculate your eLearning ROI. Having explained how Kirkpatrick’s model works, we’ll be exploring the practical ways you can apply ROI to your custom eLearning.

Assess Data From Previous Training

You must put into consideration your previous and present ROI metrics before going ahead to implement your training with LMS. By so doing, you can be able to measure the impact your training will have on your learners.

Make use of training reports

By utilizing LMS training reports, you can be able to measure the impact of eLearning on your ROI. However, you must opt for the right LMS that offers you robust features of reporting, including data on completion rates, assessment results, and progression rates.

Make data comparison

To measure your custom eLearning ROI, all that’s required is for you to compare your previous training data with the data from the training reports.