More often that not, when we speak with the stakeholders ( L&D, Business or the CXO ), it is one of the many questions that they have.
There is absolutely no problem with the question but the term ‘COST’. Is a learning intervention a ‘COST’ or is it an ‘INVESTMENT‘. If it is an investment (I know it is) then why the term COST is used to define it so frequently ?
COST by Definition is ( as per WIKI )
(of an object or action) require the payment of (a specified sum of money) before it can be acquired or done.
INVESTMENT by Definition is ( as per WIKI )
the action or process of investing for profit.
We know the thought / intent behind the intervention is the latter, but it doesn’t reflect the same when it is termed as ‘COST’ and somewhere the meaning flows down deep through the participants, facilitators and in some ways, the stakeholders too.
A ‘cost’ is an expense for which the primary purpose is to continue operations under the structure while an ‘investment’ is an expense for which the primary purpose is to change the future of the enterprise by focusing on effectiveness.
so, what should it be? ..Your thoughts are welcome !