In today's economic environment every business is looking to maximize the return on investment. One of the hardest things to figure out can be the return on investment for leadership development training.
It's easy to recognize the need for a leadership training course, but how to calculate the return on investment is another matter. Some would say it is easier to get a consensus definition of leadership than it is to calculate the return on investment in leadership training.
The best way to calculate the return on investment of a leadership training course is to have a shift in how leadership training is viewed. In most cases, leadership training is viewed as a way to improve the competencies of someone in a leadership position.
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For example, if you have a leader that does a poor job in their leadership communication, you get leadership development training to improve that competency.
To calculate a return on investment for a leadership training course you have to go one step further than just looking at the competency. You have to look at the results of having the competency in place.
To maximize the return on investment, there has to be a way to reinforce the training after the training event. Most leadership courses are one, two, or three-day workshop events. What happens in the training is participants learn leadership concepts and ways to apply the concepts.
What usually is missing is practicing the leadership concepts and getting feedback or coaching from the instructor.
