Two key indicators and their meaning
According to Fosway research, one in two L&D leaders are under more pressure to demonstrate the impact of their learning initiatives. Realities of digital learning 2021 research. When it comes to compliance learning, an essential part of most L&D deliverables, you will typically need to report on your team’s compliance rate. But what about the time it takes for your team to reach proficiency?
The rise of “access time to skills” measurement
As businesses look for more effective ways to learn, the need to reduce the time spent in the learning seat is bigger than ever. There is pressure on L&D teams to perform both in terms of content value and delivery efficiency. To calculate time to skill, find the answer to this question: How quickly do your learners absorb and actively use their learning in the workplace?
First of all, let’s remember what exactly “compliance rate” is?
The traditional way to evaluate the effectiveness of your training programs is through compliance rates. This is the percentage of learners who completed a required training program or course.
A typical example is required training such as health and safety. A company may require all 100 employees to take this training, but only 80 of them have completed it. In this case, the compliance rate would be 80%. Compliance rate is essential to measure because it is a way to ensure that all employees are aware of company policies and procedures, have the knowledge and skills necessary to perform their jobs, and know how to act safely and ethics.
The compliance rate can help you identify learners who may need additional training or support and help you meet any legal or regulatory requirements.
So, what is “time to skill acquisition”?
In comparison, “time to skill acquisition” refers to the time it takes for an individual to become competent or skilled in a particular task or area. It can also refer to the time required for an organization to achieve the desired level of performance or competitiveness.
The time it takes to acquire skills is important for several reasons, such as efficiency, performance, cost, engagement, and competitive advantage.
There are several ways to calculate the time to skill, depending on the specific scenario and what is being measured. Here are some examples:
- For an individual employeethis can be calculated by tracking the time it takes for a new employee to complete specific tasks or reach certain milestones.
- For a group of employeesthis can be calculated by tracking the average time it takes for a group of new hires to complete specific tasks or reach certain milestones.
- For a business or organizationthis can be calculated by tracking the time it takes for the company to achieve specific performance measures or goals, such as increasing market share or revenue.
It is important to note that the time to competency acquisition may vary depending on factors such as previous experience, aptitude and access to resources.
Reduce time spent at headquarters
The old expression “time is money” has never been more important than in our current climate; time is precious for everyone. Everyone has endless to-do lists and team leaders often feel overwhelmed and overwhelmed. That’s why when you and your colleagues take time to learn, it should be valuable and every moment should count. Reducing time to skill acquisition is actually reducing time spent in online training, but to know you’ve succeeded, you need to measure it!
So what does this mean for L&D teams?
- Compliance rate will always be a standard metric and will provide organizations with quick data and help them measure participation in essential training.
- However, time to skills takes us a step further and provides us with more insight into where your training and development efforts are better spent. This is also essential!
- The marriage of these two data points can be the sweet spot for L&D teams. If you have data for both areas, you will have the right information to improve course time, duration and effectiveness.
Do you want to learn more about reducing time spent in training?
Consult our guide, Effectively reduce time spent in eLearningto learn more about how to improve both your compliance rate and your time to skills.
Originally published on kineo.com.