Is your Finance Director a rat?
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.
