ISE’s new tool to measure the ROI of early careers programmes launched at a recent webinar.
The tool, developed by ISE Apprenticeships Working Group, is now available for members to calculate the Return on Investment (ROI) of early careers programmes.
In partnership with education provider BPP, a set of measures and methodologies have been developed to enable employers to evaluate the impact of their programmes across five categories:
- Salary and training
- Diversity
- Retention, LNA and destinations
- Skills
- Qualitative evaluation
While the tool was initially designed to measure the ROI of apprenticeships, further development has made it applicable to any early careers programme.
The tool includes industry benchmark data, which will be refreshed annually as new information becomes available.
ISE’s Georgia Greer led the tool’s development. She explains: “At some point most of us have struggled trying to measure the ROI and impact of programmes on our organisation. We often end up relying on blunt metrics like retention or completion rates.
“This tool really excites me as it brings together quantitative and qualitative information to create a really useful visual representation of the impact and success early careers programmes can bring to an organisation.”
A recent ISE webinar launched the tool. You will hear from Nicki Hay at BPP who showcases the tool’s capabilities. Meanwhile employer members already working with the tool share their experiences. This includes Gemma Fowle, early careers manager at Novuna and Lorcan Seery, apprenticeship manager at Irwin Mitchell.
ISE will review use of the tool later in the year including showcasing how it has been applied in practice.
You can download the tool, find guidance and support information on the ISE website.
Measuring the success of apprenticeships is one of the themes that will be explored at the forthcoming ISE Apprenticeships Conference taking place 20 February 2024. Find out more and register.
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