Increasing revenue per available wallet – the L&D challenge

I found this article from Yana, a really interesting take on where L&D should be focusing its interventions. It is something that I have been banging on about for a while, unless L&D is actively contributing to the bottom line of the organisation we seriously risk being seen as less relevant.

Nice Article Yana

yanaabakeliya

Background
If you were to picture a journey of our average guest in a hotel as a journey through a supermarket with a shopping trolley, at the check-out you will see he has purchased a wonderful comfortable bed, possibly a delicious Full English breakfast, most likely Wi-Fi and maybe even a G&T or two from the bar. “Not a very exciting shopping list” – myself and our Director of Operations thought, while pondering on the whole subject of being ‘commercially aware’ and what did that actually mean to us, to the front line team members and how can they become these ‘commercially aware’ gurus. How do you measure commercial awareness? Better still, how do you teach and motivate your core workforce to become “aware”. And then the ultimate question of how do we use this commercial awareness to drive our revenues?

The Challenge
I was about to be tasked with…

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About pauldrasmussen
Paul Rasmussen is one of Australia’s most widely read Vocational Education and Training Commentators. He provides deep, unbiased analysis and insights not only on topical issues, but also on the underlying structure and policy which supports the industry. His writing and analysis has been praised for its uncompromising and thought provoking style and its ability to focus on the issues of real importance to the sector. He has advised various government departments and ministers, training providers, public and private organisations, not for profits and small to medium enterprises on the VET sector and the issues and opportunities facing it. He is one of Australia’s most awarded learning professionals and a regular speaker at a range of conventions and forums. His extensive experience in vocational education, and learning and development coupled with formal qualifications in philosophy, ethics, business and education management allow Paul to provide a unique view of the road ahead and how to navigate it.

One Response to Increasing revenue per available wallet – the L&D challenge

  1. Hi Paul,

    Thank you very much for reading and reblogging. I am glad you agree with my vision of importance of L&D to success of any organisation through building strong brand loyalty. As L&D professionals it is our big challenge to get the management and staff buy in, so we need to look at new and creative ways to achieve this.

    Thanks again for your comment,

    Yana

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