
Here is an example of real ROI:
Communicating a Challenging Decision and Retaining Commitment
A manager had to run a difficult bonus review meeting with one of her direct reports. Under previous arrangements, put in place when the company was much smaller, the direct report only had to satisfy some basic requirements in order to qualify for his bonus. The manager wanted to change this situation, and link the direct report’s bonus to target achievement. Mindful that this was likely to be unpopular, the manager booked out a whole morning for the meeting in which she was going to broach this subject.
Using concepts developed on the Foundations of Management Program, the manager first agreed with her direct report that bonuses should be based on performance. This done, they worked together to create a set of objectives for the coming year relating to a particularly important aspect of the direct report’s role. With the objectives agreed, the manager told the direct report that his bonus for the coming year would be dependent on the achievement of the objectives they had just created. After a short discussion, the direct report agreed to this and they set a follow up meeting to monitor progress towards the achievement of the first objective.
The manager felt in complete control in the meeting, and concluded it in 20 minutes, leaving a whole morning free for other work. She later reported that it was completely successful in terms of creating motivation in the direct report and securing agreement to a difficult decision.
c. 8-10 of these per delegate x 8 delegates = c. 70 results = real ROI from a management training program
… and what is a waste of money:
As mentioned in a previous post, the management training industry has created a smokescreen around what is a real result and what isn’t. The examples below are regularly proffered as ROI, when in fact all could be achieved much more cheaply through other means:
1. Everyone actually attended the course – (the only requirements here are physical presence in the seminar room and a pulse, it is a rare delegate who cannot manage either of these. Cheaper alternative = organise a meeting, see who turns up)
2. Everyone enjoyed themselves – (cheaper options = pub, crazy golf, day off…)
3. Everyone found things out about themselves (without action in the workplace to build on this, cheaper alternatives = horoscopes + star signs, drunken post pub truth-telling sessions, books)
4. Everyone left with an action plan for how they are going to implement what they learned back in the workplace (alternatives = your last set of new year’s resolutions)
5. Everyone enjoyed the facilities on their residential course (most residential courses are hotels that use training to hook people in. Cheaper alternative = book a week in a better hotel, leave out the “training”)