Your investment in a learning management system should be able to pay-off in a visible way. Yet, many companies face difficulties in pinpointing at what metrics to look for in their LMS platform. Once you’ve chosen your eLearning solution, it’s time to determine the key performance indicators (KPI s) you want to track.
Have you defined yours? Read on to uncover only a few easy steps to take.
The success of your eLearning programs depends on successfully tackling two main phases:
1st phase: Building momentum
During initial phase of project implementation you should focus on tracking usage & volume. You want to see if the setting up initial objectives are being met: people login, discover the platform, start performing actions. This holds true also when on-boarding new users.
It is a key phase in developing habits around the platform, how to use it, what to expect etc.
Here are some examples of numbers you can track to get you started:
- opens per period
- new answers / comments per period of time
- courses/lessons completed
2nd phase: Measuring impact
Once the initial phase has passed it’s time to add qualitative and more advanced KPIs. This will connect the eLearning activity to company KPIs and to offline training.
Key performance indicators (KPIs) are numerical ways to track the progress of a business. Thus it makes sense to create a measurable connection of your eLearning performance to your business performance. Therefore KPIs have to be something you can count and measure objectively. This will make tracking of progress easier.
There is a wide variety of KPIs you can track for a training program. Examples go from how many workers complete or how many are overdue, up to key business results. These might be comparison of profits or production before and after a training program. Therefore, it is important to select KPIs truly relevant for your business and industry. Also it is important to correctly link them to your training material.
When paired with a learning management system (LMS), overall training programs benefit from a greater insight of employees’ learning behaviors. It also facilitates the assessment of e-learning behavior. What is more, it helps with pinpointing knowledge gaps and areas for improvement.
How to choose KPIs
Your training goals should always align with business goals. Take a look at an example of aligned goals provided below.
The example above showcases how you can link the KPI you want your training to impact to the business goal — close 15% more deals than last quarter. The training program goal is the qualitative goal of the entire training initiative. That is: educate salespeople on the latest trends in sales techniques. In particular, each course needs to have one or several learning objectives. In this example, the course’s objective is to make salespeople more successful on clients visit.
All goals should correlate with each other and follow the SMART approach:
Specific, Measurable, Achievable, Relevant, Time-bound
Your learners’ feedback is crucial in helping you optimize your training program to its fullest potential.
Get inspired with these Categories of business KPIs you could link to:
1. Bottom line
- Number of sales orders secured
- Dollar value of sales made
- The number of new prospective clients enlisted
- Time spent prospecting a client
- Number of errors/omissions during the sales process
- Effectively identifying a prospects’ needs (product selection)
- Time spent revising quotes (due to staff induced errors)
- Fewer customer complaints
- Less scrap material produced during the production process
- Reduction in the percentage of returned goods
- Declining customer order cancellations
- Increase in customer compliments/referrals
And below, some examples of eLearning KPIs:
- Activity Pass/Fail Rate
- Average Test Score
- Number of Executions (How many times does the average user need to take a test in order to succeed?)
- Course Completion Rate
- Competency Increase Rate
- User Satisfaction Rate
If the content and LMS used help address all (or most) of the relevant KPIs you had set out to deal with, then management will consider it to be a great return on their investment.
It is very important to be realistic in what the training content can indeed achieve. The issue to be addressed as well as the improvements being promised through training should be easy to quantify.
Start measuring your eLearning effectiveness with the right LMS for you!
Book a free consultation with an Accelerole instructional designer now. Find out more about defining the right eLearning KPIs for your business and how to track progress.