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However, one question I often get asked by agencies is how they can use it to their advantage.
While there is an understanding of its benefits, it is not always immediately clear how agencies can use the L&D Barometer to open conversations with their clients. I thought it would be beneficial to outline some of the key components of the one-of-a-kind tool, and how you can use it to broaden opportunities.
What is the L&D Barometer?
The L&D Barometer is a tool developed by Warwick Conferences and ROI Institute, which used its decades’ worth of experience to analyse almost 2,000 studies. Here, ROI Institute was able to accurately determine the factors which have the biggest impact on ROI.
In total, there are eight key factors:
- Facilities: Where is the programme taking place?
- Direct Reports: How much influence do those attending the programme have?
- Business Alignment: Is there a plan to measure the business impact of the programme?
- Appropriate Solution: Is the course the most appropriate solution to drive business measures (and if so, how?)?
- Focus on Success: Have objectives and KPIs been set?
- Appropriate Audience: Does everyone attending the programme need to be there?
- Perceived Value: Do all attendees understand the value of attending?
- Manager Support: Have managers in the organisations offered support on ensuring the programme will meet the needs of the attendees?
For each factor, there is a simple question which will ultimately determine the success of a programme. Crucially, it provides advice on how to improve a programme or planned event, which can become important during the planning phases.
Using the L&D Barometer to open conversations
The L&D Barometer is a truly unique tool, and responses from the community have been fantastic. Those working on upcoming programmes can plan with better foresight, ensuring that a programme they intend to run will have the maximum impact on the business. After all, proving ROI is only growing in importance for everyone the meetings industry.
As well as offering L&D planners with a device to understand more about the programmes they are planning, there are added opportunities for agencies. With more people looking for ways in which to measure the success of an event or meeting, the L&D Barometer is one of the first tools which offers an educated assessment of a programme.
Across agencies, event organisers often look to us for advice and suggestions on how to create an experience that truly delivers a positive business impact. This tool can be used to spark those conversations and ensure the planning phase of a programme is going to deliver a high-impact event. It is not exclusive to those in the L&D industry either, as the learnings can be applied to other meetings.
Want to know how to use it?
The L&D Barometer takes less than five minutes to complete and offers an opportunity for agencies to walk through the eight questions relating to the key factors explained earlier. As well as uncovering recommendations to potentially improve a programme, it crucially allows you to start a conversation into planning events which make an impact.
If you are interested in learning more about the tool, we recommend using it yourself. I would be more than happy to run through the tool with you, explaining each component and how it can make a big impact on a programme. Drop me a line and we can organise a meeting.
Agency Relationships Manager at Warwick Conferences and Director of Agent Relations at The Meeting Industry Association. Justine has over 30 years within the meetings and events industry, with 13 of these at Warwick Conferences. She manages the third-party agents for the business, forming great relationships and offering solutions for their client’s needs.
J dot K dot Meek at warwick dot ac dot uk