In 2022 we saw increased investment in LMS and learning platforms in the Nordics. One reason for this is probably all the benefits a learning platform can bring to a company; automating manual tasks, making it easier to share and follow up on learning, but the biggest reason is most likely that it can save a lot of time and money.
But since you're reading this, you already know all that. Although your employees may not be interested in training costs and the connection to the business goals, you as an L&D professional or team, will need to justify the training budget and be able to show the gains. So how do you do that?
A good start is to build a solid business case. But how do you build a confident case to support management in making the right decision? In this article we will give you 5 quick tips to build a solid business case for your digital learning.
1 . Start with the why
Why do you need digital learning in your organization? Maybe it's to improve employee engagement, help attract and retain talents or reduce time to performance for new employees? The list can be made long. Just make sure you note your reasons down.
2. Define your needs
Before you get lost in the jungle of LMSs and learning platforms and all their cool features, make sure you know your organization's needs. Will you use the platform for the entire employee journey, from preboarding to offboarding? What integrations do you need? Talk to other people and make sure to align this with the overall business strategy.
3. Consider everyone who will use the platform
Include admins and end-users in the buying process. After all, they are the ones who will be building and taking training in the platform. So yes, what they think matters.
4. Ask questions & be critical
Once you've narrowed down a few vendor candidates, make sure to ask the right questions. Do they have experience working with other companies in your industry? Do their future perspectives go along with your company's vision? Do they support you getting started with the platform, or will they leave you hanging once you've signed the contract? And remember to get a price early on to avoid an unpleasant shock once you have already fallen in love.
5. Make an analysis
Do a cost and benefit calculation to support your case. Take into consideration the cost and time benefits, how long will it take to get the money back, and how will it support productivity, efficiency, and employee retention?
Want to be on top of the latest trends for corporate learning? Have a look at the 2023 Nordic Learning Trends Report here and set your employees up for success.