Measuring the Impact of Learning Portfolio Transformation
Over time many companies have built large collections of training that rest inside curricula, catalogs, and the LMS. At any point in time, some of these programs have very targeted functional and business purposes and some are required for external legal or internal policy compliance. Others, however, are out of date or have no or low utilization or are duplicative. Still others may be libraries or collections of professional and technical skills courses with no specific business objective but available generally to support ongoing employee development.
As L&D functions are transforming from demand-driven to value-driven entities, the focus is shifting from managing catalogs to measuring value delivered. Driven by this shift in focus, many L&D leaders are re-evaluating their learning portfolios. They are looking to transform their portfolios and make them more agile, efficient and effective in addressing the current and future training gaps.
Many of our clients are amid a learning portfolio transformation initiative. These portfolio transformations, as we all understand, typically have a medium to high risk element. Many of these initiatives also require an initial investment that should lead to positive impact in the short to mid-term future. However, as L&D heads and their CEOs wait with bated breath to view reports summarizing the impact, they find that results are elusive.
It is hard for the stakeholders to assess the total impact of portfolio transformations and there is always a doubt whether these transformations have yielded the desired or positive outcomes.
NIIT’s Portfolio Effectiveness Index is a comprehensive measure that helps objectively assess the impact of portfolio transformations.
There are four elements that determine the effectiveness of a learning portfolio:
Understanding the Portfolio Effectiveness Index
Criticality to Business
Target Audience Coverage
Portfolio Effectiveness Index is a multiplier of all these factors.
Learn how you can apply the four factors of the portfolio transformation index and calculate the transformation index for your own learning portfolio. Download our whitepaper.