The way we work is changing. Jobs that existed 10 years ago no longer exist, and new jobs are being created every day. By 2025, 75 percent of the workforce will be Millennials. To stay competitive in this ongoing talent war, organizations' C-suites are shifting their priorities to reskilling and upskilling their workforces.
With the pace of change accelerating faster than ever, the need to maintain a competitive advantage becomes a major factor in whether a business fails or succeeds. This is why online employee learning is a major component of forward-thinking organizational strategy.
BizLibrary's Erin Pinkowski will help you build a business case for online employee learning that will align with your organizational goals and provide your employees with the professional development opportunities they're looking for.
In this webcast, you'll learn:
- How to handle technological and demographic changes in the workplace
- Why it's important to understand changes in the learning and development priorities of employees and the C-suite
- Five core elements of a business case for online employee learning
- How to strategically organize your business case to highlight the benefits for the entire organization
5. Poll Question
On a scale from 1-5, how different is your workplace today vs.
5 or 10 years ago?
A. 1 – Nothing has changed
B. 2 – A few things have changed
C. 3 – Things have changed, but nothing major
D. 4 – The majority of things are different
E. 5 – Everything is different
6. Poll Question
Do you feel that the pace of change is accelerating?
A. Yes, the pace of change is accelerating
B. No, I don’t feel the pace of change is accelerating
7. • How to handle technological and demographic changes in the workplace
• Why it’s important to understand changes in the learning and
development priorities of employees and the C-Suite
• Five core elements of a business case for online employee learning
• How to strategically organize your business case to highlight the benefits
for the entire organization
13. By 2025,
Millennials will make up
75% of the workforce.
https://www.weforum.org/agenda/2015/02/3-ways-millennials-are-changing-the-world-of-work/
14. The average worker today
checks their smartphones
9-10x per hour
We forget as much as
90% of what we learn
within one day
15. of employees voluntarily
left their jobs in 2018
Of employees will leave their
jobs each year by 2023 to go
to work somewhere else
27%
35%
Voluntary Turnover
16. Top 10 Categories for Leaving in 2018
To improve employee retention,
organizations must identify and
implement data aligned interventions
77% of the reasons employees quit could
have been prevented by the employer
19. Executives are Focused on Talent
81% 90%
of executives say talent is the number
one priority at the company
of executives say that learning and
development is a necessary benefit to
the employees at the company
https://learning.linkedin.com/content/dam/me/learning/en-us/pdfs/linkedin-learning-workplace-learning-report-2018.pdf
20. Poll Question
The most common objection from senior
executives about learning initiatives is…
A. Training and development does not impact the bottom line
B. The cost of training is more than a benefit
C. Things are fine the way they are
D. Something else (type in chat)
Poll Question
22. Companies with Learning Cultures Outperform their peers:
Benefits of a Learning Culture
They are 32% more likely to be first to market.
They have 37% greater employee productivity.
They have 34% better response to customer needs.
They have 25% greater ability to deliver the quality of products.
They generate, on average, 3x higher profit growth.
23. Employees Want Training
87% of millennials say development is very important in a job
69% non-millennials say development is very important in a job
https://learning.linkedin.com/content/dam/me/learning/en-us/pdfs/linkedin-learning-workplace-learning-report-2018.pdf
24. How Do Employees Prefer to Learn?
At Work Their Own Pace Point of Need
68% 58% 49%
25. Online Learning Makes Sense
Scalable
Effective
Economical
Efficient
Adaptable
Available
29. CEOs Want to See Business Strategy Impact and ROI
INPUT: “Last year, 78,000 employees
received formal learning.”
EFFEICIENCY: “Formal learning costs
$2.15 per hour of learning consumed.”
REACTION: “Employees rated our training
very high, averaging 4.2 out of 5”
LEARNING: “92 percent of participants
increased knowledge and skills.”
APPLICATION: “At least 78 percent of
employees are using the skills on the job.”
IMPACT: “Our programs are driving our top five
business measures in the organization.”
ROI: “Five ROI studies were conducted on major
programs, yielding an average of 68 percent ROI.”
AWARDS: “Our learning and development program won
an award for Chief Learning Officer magazine.”
MEASURE
WE CURRENTLY
MEASURE THIS
WE SHOULD
MEASURE THIS
IN THE FUTURE
MY RANKING OF
THE IMPORTANCE
OF THIS MEASURE
94%
78%
53%
32%
11%
8%
4%
40%
85%
82%
22%
28%
61%
96%
74%
44%
6
7
8
5
4
1
2
3
*The ROI Institute and Chief Learning Officer magazine Study
30. 5 Key Elements in a Business Case for Online Employee Learning
Scenario Analysis
Cause/Effect Analysis
KPI’s for Each Benefit
Risk of the Status Quo
Align with Organizational Goals
1
2
3
4
5
32. Cause and Effect Analysis
EMPLOYEE BENEFITS COMPANY BENEFITS FINANCIAL BENEFITS
Study at your own pace:
Employees have the ability stop and
start courses
Convenience: Anytime, Anywhere.
Courses and online resources are
available to employees 24/7
Employees can create and manage their
own Learning Plans
Simplified certification process
Employees are able to view a personal
dashboard of courses assigned to them,
view a record of their transcript of courses.
Some training available to all
employees, no matter location
- Anytime, anywhere reporting
- Built in testing evaluation capabilities,
allow to easily run reports
- More customized learning plans to ensure
that they have mastered difficult concepts
Better control over all aspects of the
training experience through one standard,
centralized access point (registering,
approval, tracking, reporting)
Increase alignment between employee
goals and corporate objectives
Improved visibility into learning and
performance data
Reduced costs for travel and training
facilities.
Reduced time away from the job, no
missed productivity
- Hosted services eliminates the need for
installation into a company network
- Eliminates the cost of internal supports
2
33. BUSINESS IMPACT
Improve employee performance in areas
that improve organizational outcomes
Increase the company's overall customer
service score to a 9.0 out of 10.0
cost for their onboarding dropped
from $3000 to $1000 per new hire
Low performing employees tripled
the amount of sales from the previous
month
Saved $1,200 each class. In total, online
learning helped save $14,400 each year
for this one class, alone
34. 3
KPI’s For Each Benefit
Identify the KPI’s for the
business problem you
are trying to solve
What will improved
performance look like,
who will know?
35. 5,000 customers -> each is worth $20,000 -> You increase customer retention by 1% = $1 Million
Doesn’t have to be complicated…
36. Risk of the Status Quo
4
What could happen if
everything stays the same?
What could happen to the
company’s bottom line?
Could the company lose
customers? Employees? Or
market share? (Retention and
employee turnover – example)
Could some future costs be
avoided if the investment is
made today?
$
37. Consider unmet business challenges, for example:
Employee Turnover
Work Institute 2019 Retention Report
FOR THE 9TH CONSECUTIVE YEAR, CAREER
DEVELOPMENT LEADS REASONS WHY EMPLOYEES QUIT
• The Work Institute estimates that the cost
to lose a U.S. worker is $15,000.
• U.S. employers have lost $617 billion to
employee turnover. $469 billion in turnover
costs were controllable if employers aligned
interventions with retention requirements.
• Since 2010, costs associated with voluntary
employee turnover have nearly doubled
from $331 billion to $617 billion.
• At the current trend, that number could be
$800 billion by 2023.
38. Goal Alignment
5
A process of continued
adjustment to keep the parts in
their correct relative position.
39. Examples of Barriers to Program Adoption
Will employees participate, use it, etc….
What’s the value? What is the cost?
Is this relevant to our business’s needs?
40. RESISTANCE SUCCESS STRATEGIES
No Help
• Create an advisory committee
• Use a coach
• Ask supervisors for support and provide them tools
Communication
• Work with your internal learning team to develop strategies for
high-level and end-user communication
Not Enough Time
• Focus on just-in-time learning; search and learn, job aids
• Deliver kickoff events, blended learning, learning labs
• Emphasize time management courses
• Create learning in progress signs
Fear and Anxiety
• Nurture safety and trust with perceived freedom of choice
• Focus on individual needs and help folks to see the benefits of
having online learning available
Not Relevant
• Emphasize on-the-job application
• Understand the goals of others and ask questions: “how can you
use this initiative to meet your goals?”
41. Your Business Case
1. Executive summary (1 page)
Objective sentence and bullet points on each key element
2. Current Situation (1-2 pages)
The business challenges being addressed and business goals that will be met
with the solution
3. Proposed Situation (2-3 pages)
Explanation of the solution – include a simple statement of each expected
benefit and risk assessment of the status quo
42. 4. Explanation of Business Benefits (2-3 pages)
A thorough analysis of the bottom-line impact including business benefits
gains and costs of the proposed solution (ROI) *Emphasis on business
benefits
5. Conclusion (1 page)
Executives will “bottom-line “it, so they will inevitably read the summary and
conclusion before reading anything else. Be concise and cover each major
element of business case
6. Support Material (3-4 pages)
Include supporting material, data, and research.
Your Business Case
43. Key Takeaways
How to handle technological and demographic changes in the workplace
Why it’s important to understand changes in the learning and development
priorities of employees and the C-Suite
Five core elements of a business case for online employee learning
How to strategically organize your business case to highlight the benefits for
the entire organization
45. Boosting Employee Retention Video Course
This video course defines and explains how
to create a high-performance work system,
as well as discusses the costs and causes of
employee turnover. In addition, it covers
pay for performance plans and explains
how to gather and analyze employee
satisfaction data. Finally, viewers will learn
how to create a culture that promotes
work-life balance and examine some
advanced strategies for improving
employee retention. After viewing this
video lesson, learners should understand
the factors that drive retention and have
the tools necessary to reduce turnover at
their organization.
Boosting Employee
Retention
46. Leadership and Change: Creating a Case for Change
This video lesson, "Creating a Case
for Change," is the fourth in a series
of nine. From it, the viewer will learn
the three components for building a
case for change: creating a sense of
urgency, appealing to the logical side
of the brain, and appealing to the
emotional side.
Creating a Case for
Change
47. Click the link in the chat, if you’d like a free demo of
BizLibrary’s online course collection.
www.bizlibrary.com/demo
Try out these video lessons
and more!
48. Thank you for attending!
Katie Miller
Marketing Specialist
BizLibrary
Erin Pinkowski
VP of Marketing
BizLibrary