In today's market, businesses have to keep an eye on the profitability of their day-to-day operations. And while writing skills help in a variety of business tasks, it can be difficult to pin down how changes in writing effectiveness translate to the bottom line. But taking some time to determine the ROI of skills' development efforts gives you a powerful tool to optimize your company. Remember, the pen is mightier than the sword, and data is mighty, too.
Skills Development Can Help With...
- Onboarding new clients and closing new deals using sales letters
- Coordinating employee activities and reducing misdirected or duplicated effort
- Directing attention to standout employees, projects, and processes and identifying areas for improvement via reports
- Fostering client or consumer loyalty by producing client-oriented works
How Can You Measure ROI?
To analyze your ROI, you need to establish baselines. What metrics do you want to improve? For example, you might track
- How much time employees spend on tasks each workday
- Conversion rates from marketing campaigns
- Gross or net profit
- Turnaround times on projects
Once the baselines are established, skills' training can be introduced to increase employee effectiveness in any given area. You might want to focus on employee communication so that projects move faster through the pipe to completion. Or you may not care about the time cost of projects but want to vastly increase the effectiveness of your sales letters.
The ROI of skills' development courses is calculated after the course is completed and employees begin to apply what they've learned. ROI can be calculated by finding the benefit of the course (the monetary improvement), subtracting the cost of the training, then dividing the difference by the cost of the training. That number times 100 is the percent return on your investment.
To learn more about the high ROI of skills development training, contact Hurley Write, Inc . We have years of experience helping companies maximize their writing effectiveness.