Job Market Monitor

Upskilling – Calculating the return

February 15, 2024 9:24 am

Contrary to popular belief, calculating the return on upskilling program investments is in fact possible.

Key Takeaways

Contrary to popular belief, calculating the return on upskilling program investments is in fact possible. BCG’s three-step approach requires companies to:

Identify the desired business impact upfront. This step is crucial for ensuring that the program’s goals support the company’s business strategy and people objectives.
Define the metrics for holding the program accountable to that impact and measuring progress. Metrics that capture the end results should take priority, but those that monitor progress made in the course of a program are also important.
Determine whether the targeted impact has been achieved. The importance of the program and the expectations of leaders will determine how rigorous the assessment should be.