We’re often asked by customers and prospects alike about how they can calculate the return on investment they are seeing from language training. It can be tricky. Although you have a feeling that improved communication skills are making employees more productive and are helping you close more sales, those are anecdotal examples. What if there was a way to see results in a quantifiable way? And what if that method was easy?
The ROI Calculator is an online tool built to see just how much your language learning initiative is moving the needle. The internal workings of the Calculator are based on market-driven data, case study data, and our customers’ data that we gather through our annual survey of over 56,000 learners.
For a simple example, let’s say you’ve had your employees complete our Impact Survey and have found that improved language skills save half your employees an average of 3 hours per work of productivity. You simply average those workers’ salaries, then divide by that 3 hours saved. Divide the final number by your proportional investment and you’ve got a verifiable ROI figure.
It may sound complicated, but the ROI Calculator will help you all along the way.
Of course, if you have not yet embarked on your company’s language learning journey, you simply input the expected productivity time savings (employees will know how much easier their jobs would be if they had the appropriate language skills), then run the calculation based on those numbers
We are a data-driven society, yet too many companies take a less-than-exact approach to return on investment. With budgets remaining tight, executive leadership wants concrete figures on which to rely. Now, you can give them some.