Last August, a top IT and Business Process Management expert estimated that the shelf life of technology skills has shortened to a mere two to three years, foreshadowing a future of continual un-learning and new learning. The good news is that most industries have evolved in support of workplace learning and development to help employees – and by extension, companies – thrive in a quickly changing landscape.

And then, COVID-19 took hold and potentially altered the digital economy forever.

The Acceleration Effect of COVID-19 On Digital Technologies

Emerging research shows that the pandemic has swiftly accelerated the rate of corporate digital transformations by several years. Many executives and managers reported investing in more technology-based operations and software products in response to the crisis to stay competitive in an increasingly digitized business environment.

However, the ROI of these technology investments remains to be seen. But there’s one thing we know for sure: a robust workplace learning and development strategy is critical for success.

How to maximize the value of your workplace learning and development initiatives

Investing in technologies is only part of a digital transformation story. Maximizing your return depends on how well people use it. Are they willing to embrace the new technology? Do they have the tools they need to learn and master it?

To answer “yes” to those critical questions, ensure your workplace learning and development initiatives are:

• Based on a robust and creative strategy
• Rooted in proven change management principles
• Instructionally designed to meet the learning needs of your team
• Equipped with support well after go-live

How do your initiatives measure up? In the next section, we’ll outline five metrics you can use to assess the value of your workplace learning and development initiatives for the highest return.

5 Ways to measure the value of workplace learning and development initiatives

When your workplace learning and development initiatives help teams successfully adopt new technologies, user adoption rates soar, helping your company achieve measurable results, such as:

1. Higher productivity

As we covered in our article on how Microsoft® tools can improve production and efficiency, the key to effective training on new technologies expands beyond the basics to include shortcuts and automation for enhanced productivity.

2.  Lower staff turnover

According to a market research poll, 70% of respondents said they’d consider leaving their current position for better employee development opportunities. You know your workplace learning and development initiatives are a success when more staff stay on board.

3. Better talent acquisition outcomes

Beyond keeping current employees happy, robust workplace learning and development initiatives can also help you improve talent acquisition rates. A research report indicates that 71% of digitally mature companies report having an easier time attracting new talent.

4. Higher customer retention & satisfaction

Look to your customer retention and satisfaction rates as another metric for proving your learning and development initiatives’ value. Teams well versed in technology solutions can often deliver better quality customer experiences, translating to happy, loyal customers.

5. Higher company growth

With higher productivity, lower staff turnover, better talent acquisition outcomes, and higher customer retention rates, your company is poised for measurable bottom-line growth that is certain to prove the value of your tech investment.

As we strive to keep up with the speed of technology, building and nurturing a culture of continuous workplace learning and development can add value to your company in these and other measurable ways. If you’re ready to maximize user adoption of your new technologies for the highest ROI, contact our expert change management and learning and development team to get started.