You already know that training your staff, your customers and your partners will positively impact your business results. In this article, we will list some of the metrics you want to be looking at when assessing the value of your training initiatives, and what KPIs directly link training to corporate success.
There are a few Key Performance Indicators to analyse in order to ensure your training efforts are worthwhile.
Let’s start by looking at training metrics themselves, as they are the same regardless of the business goals you want to achieve and the scope of your training platform. These metrics should be automatically measured by your training platform and can give you an overview of how the training activities are going.
What are the Training KPIs you need to look out for?
You will want to look at course metrics such as completion rate, time to completion, average assessment grades and learner feedback, as well as detailed reporting about learners such as whether they are getting the quizzes’ answers right. All these metrics will help you understand if adjustments need to be made to the course.
If the training isn't working for your audience, its business impact will not be great either.
Measuring training success
To understand if your training is impacting your business results, you need to define what business metrics you want to impact and define goals. Then, you need to cross reference your training reports with the before and after training business results.
Your goals will differ according to the type of learning platform you offer and the scope of your training programmes.
For customer academies, you will want to focus on product usage, time to first value, new feature uptake, customer satisfaction, churn and average revenue per customer. How did training impact your customer lifecycle? What’s your NPS score telling you? Also, you shouldn’t forget about customer onboarding. Did you manage to decrease onboarding time? And how did your customer academy impact customer success overall, and their support needs? Is there a correlation between customers’ usage of your academy and the number and types of questions your support team had to handle? Were you able to proactively solve some of your top user issues and repeat queries through education?
For partner academies, you will want to look at your partners’ performance. Did they increase the average amount of deals closed, after taking your courses? Did the average ticket size increase? Are your partners getting better reviews? If your overall objective is to help them become more proficient at representing you, your partner KPIs should attest to that.
For sales training academies, you will want to assess onboarding time, close rate, internal process efficiency, employee retention and other sales-related queries.
As for marketing academies, we suggest you look at your leads (both in terms of quantity and quality) and at your upselling and cross-selling numbers.
Finally, and for employee academies, you should focus on the typical HR metrics: satisfaction, retention, general performance data and employee feedback.
Your training platform is meant to help your audience be better at what they do so, when your customers, partners or teams succeed – so does your business.
Do remember that using your KPIs to track how your learning efforts are paying off is a fundamental piece of your training strategy. The insights you will gain through KPI analysis and the flexibility offered by a robust learning platform are sure to provide invaluable guidance to important business decisions.
You may also find interesting:
The training metrics your CEO actually cares about (article)
Get detailed reporting to ensure its impact on your business KPIs (article)
12 tips to choose the right training platform (article)
Why include video training in your planning for next fiscal year (article)
If you would like to know more about how bugle can help you improve your business KPIs, let's talk!