The importance of employee training has become exceedingly eminent over the last few decades. Learning Analytics and KPIs share a correlative function as one measure the impact of learning, and the other indicates the knowledge gaps and areas for improvement in the performance, based on training.
KPI stands for key performance indicator(s). KPIs are quantitative measurements to evaluate the effectiveness of business objectives. KPIs have to be something to measure objectively such as data gathered at the beginning, during, and after the training is completed which can be used to track the progress.
A business as a whole may choose its own set of KPIs. In addition, each department may also have its own KPIs aligned to the work. Once the KPIs are aligned with the goals of individuals, teams, and the organization; monitoring & analysing those KPIs will measure the effectiveness of the training and reveal the areas where the training is influencing results and helping to meet goals.
Training KPIs to Track
These KPI performance indicators are linked specifically to the training program itself. Here is a list of salient employee training KPIs:
Training Completion & Attendance Rates
Training completion rate is an important KPI to measure the effectiveness of the training program. Knowing how many employees have successfully finished the course would help identify the level of engagement the learners are experiencing with the content. On contrarily, a low completion rate might be a sign that users are not finding the course useful hence changes to the content should be made accordingly to motivate the learner to take the courses.
Attendance rate is a metric that can gauge the popularity of elective courses for companies that have optional training programs for self-paced learning. By tracking attendance, the demand of such courses can be validated and modifications can be made accordingly.
Evaluation is a crucial part of any training program and test scores indicate directly the level of efficiency the course is having on learner on-the-job performance. If the learners are scoring well on their assessments, the trainings are effective which would also show improvement in their job productivity. However, if the fail rate is higher, it is time to revaluate the content & increase the quality of the training programs for better results.
On-the-Job Skill Acquisition:
The sole purpose of corporate training is to enable the employees to apply knowledge into skill.
Tracking the progress & development of the acquired skills can help evaluate the usefulness of the training.
Digital training implemented with learning analytics can be observed to determine the reasons or knowledge gaps interfering with the transfer of knowledge to the job for which appropriate remedial trainings can be planned.
Job Competency Level:
Assessing competency, the ability to put that knowledge to use and solve problems is a great way to track the progress of the learner as they develop their job skills. High competency rate can also help to identify people who are fully competent on-the-job role gauging their development and identifying strengths and gaps.
Higher customer satisfaction and better employee performance can act as an indicator of the effectiveness of the training courses reaching the desired learning objective.
Employee engagement as a KPI should be considered as an important parameter as it quantifies the quality of employee training and enhances employee retention. To put it in simple words, the more people participate & complete the course, the more effective the training course will prove to be.
Employee Satisfaction Rate:
Direct feedback from the employees will act as an indicator of whether the training rolled out for the employees is effective or not. Employees can highlight what is working & what is not working within the course structure to help evaluate the quality & effectiveness of the training course.
Benefits of KPIs
Here’s a quick recap of the benefits of the key performance indicators that be used for improving the training programs thereby enhancing employee performance:
- KPIs provide valuable information because they are always measurable and quantifiable.
- Learning KPS’s help in identifying the problems with the training course early in the process.
- KPIs help to track the training effectiveness, which can be used to modify the course based on the required skill or knowledge gap.
- Through setting the KPIs, it can help organizations to set training courses aligned with the business objectives across multiple departments at the same time.
- Key performance indicators help to generate better ROI and save money as informed decisions can be made after collecting actionable information during the training duration.
- KPIs help to align marketing & sales efforts in an effective & harmonising way. When goals are set in place, the teams can collaborate efficiently to deliver better results.
- Companies can discover their potential strengths with the use of KPIs to enhance the performance of the business.
Employee training KPI metrics can be used to identify problems and make improvements to the learning experience thereby creating value of training for both learners and the business. Remember, analyzing the impact of training not only facilitates better decision making, but it also results in better ROI. Evaluate these measurements to make the most out of your training – after all, there’s a lot of cost, time, and effort involved!