Q&A: Is Our L&D Function Adding Business Value?

Topics: Business Outcomes

Overview

How can you really know if your L&D programs are highly relevant to business success or are just considered “nice-to-have”? How might you predict if your L&D budget will be…

• dramatically slashed in an economic downturn?
• reduced by less than other support functions?
• increased to counteract other drags on business performance?

What’s the likelihood your senior executives are beginning to think they need to install someone with a business background to lead the learning function to redirect its focus toward improved business performance? 

If you answer the following five questions with complete honesty, you’ll get a good idea of where you stand in terms of how much value the organization “perceives” your function provides.  Notice the word “perceives.”  Since there are still no agreed upon and defensible quantitative formulas to prove a dollar value of a training benefit (not until we have a version of Generally Accepted Accounting Principles for Talent), we have to at least be certain the organization’s perception is that we are adding significant value.  Perception will be the reality senior executives rely on to make funding decisions.