Employee training is one of the effective ways through which organizations can upskill their employees and make them better at their job. If employees perform well, it will help the company grow financially as well. In both ways, employee training is a key factor for the organization. However, many organizations are not willing to conduct employee training unless it’s mandatory. This is because employee training is often perceived as something expensive with a low return on investment. But the loss of not conducting employee training is more than conducting it in the first place. Lack of training can lead to high employee turnover, compliance, and safety costs, and an unskilled workforce.
Considering all these negative effects, it’s better to conduct employee training. Employee training can be done within the budget if it’s planned and executed well. To help you better with it, we have listed down the effective ways through which organizations can conduct employee training within the budget.
1) Leverage technology:
Gone are those days when classroom training is then an online option. These days most companies are conducting their employee training online and it’s high time your organization should consider it too. For online training, you don’t need a physical classroom, equipment, and your learners also don’t need to travel to the training location. It cuts down costs for both parties concerned. For online training, you can choose learning management systems. With the employee training software, you can create, deliver and manage your employee training effectively.
2) Offer ready-made online courses:
If you don’t have the budget to hire designers and course experts to create content or hire tutors to deliver the classes, then you can consider using online courses. Many online learning platforms offer a wide range of courses. Pick the one that’s suitable for your employee training and pay for your employees to enroll in it. These courses are usually created by top experts so you don’t need to worry about the quality of content.
3) Re-use old content:
You might have created a course for employee training previously, use that content and repackage it a bit to meet your current needs. You can create quality content once and use it multiple times. Thus, whenever you create course content, ensure you are putting everything into it to ensure it lasts for a long time so that you can use it whenever you want.
4) Find trainers within the organization:
Find out an employee who has good technical expertise and communication skill and use him/her as the trainer for the training program. In this way, you can cut down the trainer costs and it would also be a great opportunity for your employees to test their teaching skills. You may consider offering an increment in the salary for the trainers to motivate them to take up this new job. Your learners can also get along well with the trainer as they know each other before.
5) Offer on-the-job training:
On-the-job training means you are allowing the new hires to learn as they do their job. 9n this way, you can cut down the costs and also save time for the new hires as they learn and work simultaneously. It is a flexible and personalized approach. Learners can learn quickly because of the practical approach. They make mistakes and learn from them quickly.
To wrap up, employee training can be conducted on a limited budget if you use all the resources that are available to the best of your ability. But before you find out how to conduct the training on a limited budget, make sure why you are offering training and what is the ROI. If the objective is clear, you can then plan the training effectively within the budget.