Learning Technology ROI: Key things to consider and one thing NOT to do

Learning Technology ROI: Key things to consider and one thing NOT to do

In the ever-evolving landscape of learning and development, making the right choices for your organisation’s growth is crucial. Learning technology is one critical component for L&D teams, the heartbeat that ensures knowledge flows seamlessly, compliance is maintained and employees are equipped to excel in their role.

Whether you’re looking to invest in new technology or get the most out of your existing products, there are some key principles we preach that will help you prove long-term ROI and maximise the effectiveness of your learning technology. So, let’s get into it.

1. Futureproofing: Adapting to change

The only constant in today’s business world is change. Your learning platform should be a reflection of this reality, capable of seamlessly adapting to emerging business needs, technologies, and evolving methodologies. Futureproofing is not just a buzzword; it’s a strategy. Invest in a learning solution that grows with your organisation, ensuring relevance and effectiveness in the long run.

When reviewing your technology stack, first and foremost you need to understand your learners needs – tailor your learning platform to meet their specific requirements. Next, you need to have a clear picture of the business goals. What is key to success? What are the key drivers? Where are the skills gaps? With those questions answered you’ll have a much clearer map of what’s needed and be on the road to unleashing the true potential of your learning platform.

2. Cost & ROI: Beyond the Initial Investment

Understanding the true cost of a learning platform involves looking beyond the initial expenses. Consider the long-term benefits and how the platform contributes to the overall growth of your workforce. A well-thought-out investment will not only show immediate returns but will continue to pay dividends as your employees develop and your organisation thrives.

There’s also the admin and content costs to consider. It’s all well and good having a shiny new platform, but if you don’t have engaging content or the personnel to support a platform, you might find learner engagement quickly drops off if there’s no continuous investment and attention to improvements.

3. Scalability and Customisation: Tailoring for Success

Your learning platform should be a chameleon, capable of scaling seamlessly with increasing user demands while still being tailored to meet your specific organisational needs. It’s not just about growth in numbers; it’s about growing in the right direction. A solution that can evolve with you ensures that your learning initiatives align with your business objectives.
Can your learning technology seamlessly integrate with your other business systems? How easy is it to get the data you need to make informed decisions? How often does your provider release new features and enhancements? These are critical questions that will help you decide if your technology is fit for purpose to grow with the business.

4. Data & Analytics: The Power of Informed Decisions

In the age of information, data is your greatest ally. Leverage the power of data-driven decision-making by effectively collecting and analysing information. Understand user behaviours, identify areas for improvement, and enhance the overall learning experience. A learning platform that provides robust data and analytics capabilities empowers you to make informed choices that drive success.

Look beyond the statistical data you get from the platform and ask your users how they find the experience, what they think can improve. This first-hand feedback will give you invaluable data to improving the overall learning experience and ultimately, drive deeper business impact.

In essence, data and analytics empower you to move beyond assumptions and make strategic decisions rooted in evidence. So, embrace the power of data—let it be your guiding light on the journey to optimised learning.

Now we’ve covered the things you should be doing to maximise learning technology ROI, let’s dive into the one thing to avoid.

Impulsive buying will lead to regret

In the pursuit of progress, it’s easy to succumb to impulsive buying. Rash and unplanned purchases often lead to buyer’s remorse and difficulties during implementation and adoption. Take the time to evaluate your needs, involve key stakeholders, and ensure that the chosen learning technology aligns with your long-term goals.

Remember, technology alone will not solve all of your challenges. Thinking it does can lead to a situation we see all too often, with organisations buying new technology thinking it’s the silver bullet to their problems and then later down the line repeating the same process. Technology can be a powerful tool for improving learning, but it requires critical thinking, strategic planning and continuous improvements.

In conclusion, the journey to Learning Technology ROI is a strategic one. By focusing on future-proofing, understanding costs beyond the initial investment, ensuring scalability and customisation, and harnessing the power of data, you pave the way for a learning environment that truly adds value. And, of course, steering clear of impulsive buying ensures that your investment is a well-calculated step towards a brighter future.