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Training/HR Insights
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November 2006
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News
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Gain Executive Support for L&D Initiatives
5 critical steps you can take to demonstrate value to business leaders
One of the greatest challenges training leaders face is how to gain executive backing and financial support for critical initiatives. While most executives believe that the organization’s human capital is an important asset, many remain hesitant about spending substantial budget dollars on training and performance improvement programs designed to increase the value of their workforce. The persistent question is whether or not the lukewarm support is due to executives’ perceptions about the value of training, or whether it’s due to training leaders’ inability to adequately sell that value. We advise training leaders to take proactive steps to effectively market the value of performance improvement initiatives to senior executives and key stakeholders.
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How to Survive the Impending Talent Shortage
Developing in-house talent is more important than ever
Training today is more critical than ever. With a tightening job market and the looming worker shortage created by retiring baby boomers, there needs to be a shift from acquiring talent through hiring to developing internal talent. Deloitte & Touche states that an organization will spend 50 times more to recruit an employee earning $100,000 annually that it will spend on that employee’s annual training. If training is more and more pivotal to corporate performance, why is it often the first item to be slashed from the budget when money is tight? The answer is that, unfortunately, not all training adds value.
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Proving the Value of Your Training
Evaluation is a critical element of performance-based training
Accountability is a matter of growing importance in the training industry. Training departments are held accountable for the performance of employees and the resulting financial impact on the organization. And training directors, eager to prove to executives that the training department should be viewed as a value driver, are more and more focused on evaluation and the bottom-line results of their training solutions. So how do you show training’s positive impact and financial results?
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About CEP
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Copyright © 2006 The Center for Effective Performance. All rights reserved.
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| CEP, The Center for Effective Performance, is the consulting leader in advising organizations on how to turn their workforce into a competitive advantage. For nearly two decades, CEP has helped companies solve performance problems, develop training guaranteed to work, implement best practices, and create performance improvement strategies that translate into improved financial results. As the world's leading practitioners of Dr. Robert Mager's research-based methodology, CEP delivers world-class, proven solutions that increase profitability and shareholder value. Learn more about us at www.cepworkforceperformance.com.
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