At Performitiv, our clients receive a great return on their investment. Our solution is a rounding error in the overall L&D budget yet our system is routinely relied upon to tell the story of impact from programs that cost hundreds of thousands or even millions of dollars.
Nonetheless, investing in learning measurement tools sometimes requires a business case so that management can fully understand the value tools like Performitiv can have on measuring learning effectiveness. This blog post presents the framework for a concise yet articulate business case for learning operations to invest in learning measurement systems like Performitiv.
First, start your business case by describing the need. For example, an investment in Performitiv technology provides a modern approach to learning measurement and performance improvement. Data collection is simple. Outputs focus less on reports and more on actions to create positive impact to people, programs and results and this is done cost effectively.
Next, articulate a sense of urgency for your investment and the opportunity that is available now, not years from now. For example, cite that Performitiv is a technology to tell the story of learning impact and is an annual subscription that future-forward organizations subscribe to in order to showcase their learning's value. It may also be worth noting that, according to research, competitive organizations are actively modernizing learning measurement to rapidly evolve to meet the needs of modern learning operations in ways that demonstrate impact while also facilitating the improvement and optimization of business results.
Third, speak to your business case from a strategic perspective. For example, Performitiv is a technology that will empower the L&D operation (instructors, designers, program managers, and learning leaders) to manage what they do in a data-driven way.
Next, clearly state why the investment is worth doing now. For example, investing in Performitiv by measuring job application and aligning learning to results is critical to ensuring current and future L&D investments are allocated properly. It is the only system that uses secure and reliable APIs and is the most cost-effective solution on the market today.
To build your case for resistance to change, cite the ramifications for not making the investment. For example, failing to properly measure what is being designed and delivered is a significant business risk to operational quality and organizational impact.
Next, document the financial and non-financial benefits to investing in a tool to measure learning impact. For example, from a financial perspective, Performitiv is often 50% lower in cost than other measurement tools and Performitiv is often less than 1% of the overall L&D budget yet it measures critical programs like leadership, on-boarding, sales, and compliance programs.
From a non-financial perspective, there are multiple intangible reasons to invest in Performitiv. First, it is a foundational piece in creating and maintaining a learning measurement culture within the organization. Second, it can reduce the burden of manual tasks that can be automated with Performitiv, and third, conversations around learning impact will be more collaborative and less controversial.
Finally, convey the cost and benefit of the investment. Again, the cost stated as a percent of the total L&D budget is a good method to use here. Further, citing the cost of a tool like Performitiv being materially less expensive than other tools is a way to show care and consideration for the budget while focusing on the strategic imperative to better manage the larger L&D budget with this nominal investment.
If you'd like to receive a business case, let us know. We'd be happy to prepare something for you so you can start having conversations with management on the rationale and many benefits of investing in learning measurement with a tool like Performitiv.
The Performitiv Team