Time Tracking in Measuring Team Learning Impact on Business
Ignoring the question of specific metrics when evaluating the impact of team learning on business might hinder the process due to lack of transparency. To ensure the strategic impact of team learning on business growth, it is crucial to operate on precise metrics that time tracking provides.
Team learning as a concept is important for achieving employees’ higher performance and realizing the business goal of expansion.
Employees’ training is the crucial area of investments as it:
- helps eliminate employees’ disengagement
- serves as an instrumental factor in increase of business effectiveness.
Aside from the diverse advantages of improved team collaboration, team learning assists businesses in maintaining employees’ motivation.
According to statistics, among the reasons for feeling dissatisfied with their job, 74% of employees report on lack of development opportunities at their workplace: in this context, team learning is a great facilitator encouraging your teams to be more productive in workplace.
When businesses need to reconsider their approach to team learning
There are red flags signaling of inadequate procedure of evaluating the team learning. In particular, businesses are to be on alert when the team learning does not bring tangible results:
- The task performance is inconsistent
- The project deadlines are not met on time
- Team members do not engage in decision-making
- The lines of communication within a team are broken
- The value of the experience of the fellow team members is ignored
- The team morale is low
- Project goal setting lacks clarity.
To avoid these detrimental consequences, it is important to enable the mechanism of monitoring the team learning cycle on regular basis in regards to learning results visibility.
Apparently, without addressing the question of specific metrics when evaluating the impact of team learning on business, the process might be hindered with a lack of transparency.
To eliminate second-guessing and ensure the strategic impact of team learning on business growth and staff confidence, it is essential that businesses had a clear view of the team learning process and its results.
It will enable both HR and project managers to operate on specific numbers reflecting the effect of team learning on business profitability and manage the process with improved efficiency.
Below, there are suggestions on what metrics must be taken into consideration and what techniques might be of assistance within the evaluation process.
The components ensuring the visibility of the impact of team learning on business include:
- Skill assessment reviews
Though the employees' self-evaluation is not providing the instant linkage to ROI or sales but performance reviews and skills assessment deliver a great amount of data for addressing the questions of work quality and team learning effects.
- Learning and Development Strategy
To build the proper learning strategy, it is essential to implement the system of calculations enabling a clear evaluation of corporate training and team learning monthly, quarterly and annually.
Team learning: Metrics of Effectiveness
Setting the metrics of the effectiveness of team learning implies the definition of:
Thus, at this stage there are three questions to be asked:
- What is the purpose of team learning?
- What is the area of evaluation in terms of inputs and outputs?
- What tools and techniques are applied?
While the answer to the first question may vary depending on the business niche particular characteristics and needs, the target areas of team learning effectiveness evaluation are universal.
The areas where metrics pertaining to effective team learning show definite dynamics include:
Checkpoint for effectiveness: Increased sales
Did the launch of training translate into increased sales numbers?
Consider the measuring models you apply in your business and implement the same indexes for evaluating the team learning results. Quantifying the business goals at the stage of planning the team learning objectives can get the companies closer to evaluating the impact of team learning in monetary terms. It will be easy to compare the planned expenses on the cost of learning against the outputs at post-learning stage.
How to confirm: By monitoring employee workloads and assessing their productivity.
Checkpoint for effectiveness: Reduced costs
Did the team learning result in a decrease in enterprise operating costs?
You can include hours allocated and utilized on team learning into HR system to assess the ROI of training cost investments. With the positive numbers, businesses can proceed further as it means profits against spending.
How to confirm: By calculating the cost savings across enterprise departments that team learning resulted in.
Checkpoint for effectiveness: The team learning brings higher employee retention, which positively impacts business processes across all the enterprise departments.
Did the employee retention rates increase?
How to confirm: By tracking the employee retention rate within the team learning cycle.
The Impact of Team Learning: Measurement Tool
In case HR did not pay enough attention to collecting, tracking, and evaluating data on how the team learning performs in your business, it is high time you reconsider tactics and applied software that would give you control over the metrics.
One of the tools that greatly assists in the evaluation of team learning impact on business profitability is an automatic time tracker equipped with the function of PTO tracker.
The PTO tracker diverse functionality allows monitoring the business processes in terms of meeting the specific quantifiable team learning objectives.
Time tracker supplies data on:
- performance in terms of velocity and teamwork engagement
- sick leaves
- paid time off
- overall presence at work.
The automatic time calculation is applicable for measuring increase or decrease of productivity by extracting the attributes pertaining to the online activity in percentage.
Tagline: Monitoring the post-learning process by tracking time and productivity helps devise a system that promotes transparency and visibility across all the business departments. Overall, time and presence tracking allows to communicate at the right level of detail and granularity.
- Businesses can be strengthened by leveraging the team learning potential for the enhanced team collaboration and increase of employees’ confidence and productivity.
- One of the methods that infallibly demonstrate great results across any business sector when it comes to getting a clear picture of the monetary benefits of team learning implies tracking the time metrics.
- Applying tracking techniques helps you get a clear view of the inputs and outputs in team learning, and justify the results by evaluating the process in terms of increased profitability.
Metrics collected with presence and time tracker enable businesses to get data for measuring team learning impact on project performance and directly contributes to building foundations for accountability and time effective utilization of resources.