ANATOMY OF A SUCCESSFUL RETURN ON INVESTMENT WHEN TRAINING

On a recent workshop we did for a client in the health care industry, people were particularly interested in how to have a real return on their investment of money and time put into this meeting. They knew their performance somehow had an influence on the cost and quality of their service but they did not know how exactly, and most importantly, they did not know how to improve it.

The main reason they called us in was to look for ways to resolve some issues related to client retention. They were losing clients and a previous survey seemed to indicate the loss was caused by the service they were providing.

So ran a workshop designed on a very specific topic: Customer retention

During the workshop we explored their mindsets by applying some techniques and exercises designed to generate solutions. Through the right questioning, interaction and dialogues; after approximately 2 hours, the customer service topic had branched out into 4 seemingly disconnected areas: process improvement, communication, perception by the customer and stress management.

Once their awareness about their issue was different, and they knew how their perception of the problem was actually a symptom of something bigger that they had not realized before, we found how all of these areas were impacting also in other important aspects of the business.

Applying the right tools for each area, and putting together team action plans, they were in good capacity to make their most experienced estimation of the financial benefits of the solutions throughout the business - not only client retention-

Here are their numbers:

-Process improvements benefit $ 25,000

-Communication benefit $15,000

-Customer service benefit $ 20,000

-Stress Management benefit $ 80,000

Total: $140,000... Implementation efficiency: 75%, that is $105,000

These estimates are the benefits agreed from the heads of these areas: President, Customer Service, Operations, HR; and yes, their CFO, as one of the participants, certified these benefits were realistic, and could make it to the financial statements.

This workshop resolved their client retention problem, and we went beyond that unveiling the hidden opportunities to improve their business practices with $105,000 added to the financial performance. nothing bad for a $2,800 workshop of 2 hours.

 Yes, they have to work on implementing the business initiatives discussed there, however they don’t have to work harder than what they were doing before, they just have to work smarter, change direction in a few things and work their priorities better.

As for us, in the final group assessment -as most trainers ask for- we got the following feedback from the group, including the president of the company:

"Our time has been well spent, we gained critical valuable and implementable knowledge. Joe has honed the ability to facilitate highly interactive training that allow participants the opportunity to address specific needs and have an actionable plan to implement at the end of the session, Now we have a better understanding of the business, and all the energy to implement our own ideas."

In CE Leadership Group, we are all about getting these results for our participants.