They Invest for Sufficient Returns
And what is sufficient – the hurdle rate as it’s often called – varies from Enterprise to Enterprise – and over time within an Enterprise.
Do you know your Enterprise’s current “Hurdle Rate?”
Ask someone in the Financial function.
You’ve Invested in T&D/L&D/Knowledge Management Content
Should you continue – or should you discontinue – more Life Cycle Investments?
You Might Invest in New T&D/L&D/Knowledge Management Content
Should you? Would you make THAT investment if it was your money?
All Learning Starts As Informal Learning
Only when it is too risky to leave to Informal Learning means should L&D/T&D invest in making it more Formal.
And that Formal might be 1) Standalone Job Aids/Performance Support.
Or 2) Job Aids/Performance Support embedded in Training with sufficient Practice with Feedback.
Or it might require 3) Training with sufficient Practice with Feedback to ensure that it’s been memorized to enable recall on demand when there no time for referring to a Job Aid or Reference – and/or to really hone a skill to a sufficient level of Performance Competence.
Don’t build/buy/curate Content just because you can. It’s got to be worthwhile from a Life Cycle Cost/Benefits perspective. Not just from a First Costs/Benefits standpoint. All First Costs lead to Life Cycle Costs … and Benefits.
Embrace the Informal means to Learning to Perform. That just might be satisfactory. If not – take it to some Formal means.
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