Organizations, both for-profit and non-profit, have for many years used one standard metric to determine the value of every resource allocation decision: Return On Investment (ROI). This measurement is completely appropriate for investments that have quantifiable results, such as software acquisition or new staff positions, but savvy Chief Learning Officers have begun to understand that ROI simply can’t provide a true measure of learning.
Corporate education professionals are recognizing that they must measure whether their efforts are affecting the priorities of their internal clients in ways that are meaningful to those clients. They must measure the business impact of their efforts.
Mike E. Echols, Director of Bellevue University’s Human Capital Lab and Executive Vice President of Strategic Initiatives for Bellevue University, describes business impact as “the specific measurable performance indicators that relate to the strategy and goals of the enterprise.” Similarly, Karie Willyerd, partner of Future Workplace and Chief Learning Officer of Sun Microsystems, often speaks on her methodology to evaluate this by focusing on behavior, business goals, and bottom-line financial results.
At Blackboard, we call this Impact On Business™ (IOB™): the ability to positively impact the behavior, business goals, and bottom line of your clients. How is IOB achieved? It is achieved when you develop training programs that align with the business leader’s goals. These are the true metrics in support of your business goals, and we at Blackboard can help you develop strategies, programs and measurements that demonstrate your value in helping internal stakeholders successfully reach those goals. That’s what IOB™ is all about.
To learn more about Impact On Business, including four steps to achieving IOB, download our white paper, Why Impact on Business is the New Measure of Corporate Learning.