Given the current economic environment, many commentators were quick to predict that learning and development teams would remove their training budgets. What, in fact, has emerged among many forward thinking organisations is an increased propensity to take a detailed look at the return on investment received from learning spend.
What this means for Continuing Professional Development (CPD), is that actively managing the talent of your workforce, whatever the size of your organisation, is fundamental to understanding and achieving ‘return on people employed’.
New CIPD Framework
With this in mind, the Chartered Institute of Personnel and Development (CIPD) and a range of key partners recently launched their ‘Valuing Your Talent’ framework. This is a timely resource for professionals involved in the development and management of CPD learning programmes within the workforce, both across the UK and internationally.
The new CIPD framework directly supports the ‘return on people employed’ approach and the professionals charged with implementing this, along with supportive training providers and other learning professionals. It suggests a number of key responses and approaches for ensuring CPD activities are aligned in a way which can contribute to effective, measurable talent management, five of which are outlined below.
Five Ways to Achieve Measurable Strategic Value from CPD
1. Obtain Senior Buy-In
It is vital that any strategic CPD agenda has the full support of - and is driven from the top level by - senior executives in the organisation who are fully conversant on the real impact and value of their people.
2. Take A Strategic Approach
Ensure individual CPD programmes are directly linked to key strategic initiatives within the organisation. They should also be designed to impact on the value drivers within the organisations’ business model
3. Include Measurable Learning Objectives
Programmes should be designed and developed to include measurable learning objectives, which will show where business model value will be added by the learning delivered
4. Engage External Stakeholders
Engage with wider stakeholders inside and outside of the organisation to identify the real cultural and behavioural issues in your industry and its workforce, to ensure your CPD learning programmes are relevant and will increase future value
5. Use Data to Identify Returns
Use specific training and development data and metrics to show how business model value has been added via CPD to date, as well as highlight how it could potentially be added to further through future CPD activities
The question now is how well can we demonstrate that increased ‘return on people employed’ can be achieved through using CPD activities measured by the ‘Valuing Your Talent’ framework?
We’d love to know your thoughts on this. How do you see this framework affecting your business? Let us know by tweeting us at @LivUniCPD
For information on CPD programmes from the University of Liverpool, visit http://www.liverpool.ac.uk/cpd/