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Choosing Growth Programmes: Why Value for Money Matters - Future Business Solution

Choosing Growth Programmes: Why Value for Money Matters

27 November 2024 ebp Comments Off

In the MENA region, with growth programmes becoming evermore popular due to companies focusing on the development of their talent.

Organisations are increasingly seeking effective ways to upskill their teams and drive performance.

Gaining value from growth programs is essential.

What Makes Value for Money Essential?

Long-Term ROI

Growth programmes should not just address immediate needs but contribute to sustained employee and organisational development.

A higher initial investment can offer long-term benefits, translating into increased productivity, retention, and ROI.

Enhanced Employee Engagement and Retention

In my experience employees who feel their growth is supported are more likely to remain engaged and stay with an organisation.

A Deloitte report (2023) shows that 65% of employees are more loyal to organisations that offer quality learning opportunities.

Visible Skill Development

With value-oriented programmes, teams emerge with actionable skills rather than surface-level knowledge.

Quality providers emphasise real-world applications, ensuring that new skills lead to measurable performance improvements.

Why the Lowest Price Isn’t Always Best

  • Many may assume that a lower price tag signals savings:
  • The lowest cost can sometimes mean.
  • Less personalised content
  • Less face-to-face online interaction
  • Less support from the provider, crucial for success
  • Not based in the delivery country
  • Generic materials
  • Outdated methods

A comprehensive programme may require a higher investment but typically offers:

  • Customisation for Business Goals
  • Providers who align their growth with an organisation’s unique needs create more impact.
  • Up-to-Date Materials and Techniques
  • High-quality providers frequently update content and use proven methods, unlike budget providers who may recycle materials.

In my interactions with various providers in the region, I’ve seen that those who prioritise quality create programmes that are more engaging, actionable, and beneficial for long-term growth.

Those who don’t may see a reduction in engagement, skills and knowledge gained from the programmes.

Key Questions to Ask Growth Providers About Cost

When evaluating growth providers, here are some essential questions that help gauge value for money:

What specific outcomes does the programme guarantee?

Understanding deliverables upfront helps align the growth with business goals.

Are you selecting the provider on lowest cost?

Will this lead to satisfaction and high-quality delivery for your employees and business.

How will the programme be tailored to our unique needs?

Personalisation indicates that the provider is invested in addressing specific challenges rather than offering a one-size-fits-all solution.

What support is available during growth and post-growth?

Continuing and follow-up support is invaluable, ensuring that the skills acquired are reinforced over time.

What is the provider’s track record in the MENA region?

  • Good reputation in the market
  • Accredited to the awarding body
  • Positive social media presence and comments, LinkedIn, Facebook, Insta etc.
  • Local experience can ensure the programme is culturally relevant and tailored to the region’s unique needs.
  • Local office for support and queries

Key Takeaways

  • Value for money is about long-term ROI, engagement, and effective skill-building.
  • The lowest price does not necessarily indicate quality; invest in outcomes and expertise.
  • Customisation, updated methods, and measurable outcomes add value to programmes.
  • Asking the right questions helps determine if a programme will meet your organisation’s goals.

Are you evaluating growth providers in the MENA region?

Start by ensuring they offer value, not just cost savings.

Engage with your provider, ask the right questions, and choose a programme that aligns with your growth objectives.

Value for money is an investment in your team’s future, so make it count.