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If you
have just celebrated Chinese New Year you will know that it
is now the year of the RAT. In Chinese folklore, RATS are
noted for being very thrifty, and need a great deal of persuasion
and arm-twisting to be separated from their money. So
Is
your Finance Director a (Chinese) Rat?
If so,
you will need tools and processes to value your L&D and
secure the training budget you need. The ROI Academy™ can
help you develop the hard data, models and numbers that will
back up your professional judgement..
RATS
need Persuasion
The
best promise you can give a Finance Director is that the returns
on offer will be much greater than the initial investment.
Using the Academy tools and processes will help you show a
range of likely returns to your planned projects.
RATS
seek Credibility
Finance
Directors know that the greater the potential reward, the
greater the risk. They tend to be pretty sceptical about risk
free rewards as well. You can use the Performance Pound™ or
the Line of Sight Wizard™ to produce a risk analysis and show
what happens if things don't go to plan.
RATS
like Historical Data
Finance
Directors like looking at past performance so get some historical
data together. You may already have data that you can run
through the Academy tools to give you some reasonable estimates
of the business impact of last year's programmes.
RATS
want Predictability
It amuses
me that the one thing Finance Directors never get right is
predicting future financial performance, but they expect everyone
else to manage it. Make sure you learn how to model the impact
you expect training to have in future. Take your RAT (or favourite
finance director) through the model and ask them for the cost
data – they will never accept yours anyway!
Finance
Directors want to use money well
You
know that one of the best things an organisation can do is
invest in developing its people. Promise yourself that you
will get some tools and processes in place to ensure that
the Finance Director knows what a great investment L&D
is. After all, other RAT characteristics are to be kind, caring
and concerned for others.
Management
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