Training can be a costly undertaking for any business, especially when you have a limited budget. The cost doesn’t just include the training itself but additionally the loss in productivity and profitability. This loss can be quite substantial when large numbers of staff are away due to training.
When you have a limited budget, investing in training initiatives can be a challenge. Afterall small organisations have business needs that are just as complex as large organisations. However many SME businesses often don’t have the time, budget, or means to purchase high-quality learning solutions. But that doesn’t mean to say you can’t achieve a successful solution…
So, what can you do to minimise the cost of training without sacrificing important information?
How To Cut Costs On Your Training Systems: –
Compliance training courses are necessary, but they can also be resource-draining. Particularly when you are catering to a distributed workforce or if you are in an industry that’s tightly regulated, you must ensure that everyone has the engaging, experience-building resources they need to comply with policies and protocols.
Here are some tips to give your organisation a cost-effective way of staying compliant.
1, Evaluate your current training program
One of the most effective ways to save on your next training program is to take a closer look at your current training strategy. This allows you to determine what’s working and how you can minimise spending moving forward.
For instance, your current Learning Management System metrics could reveal that certain online training resources aren’t being used. These seemingly redundant resources often still require regular maintenance which could have an effect on your budget.
2, Identify gaps and target your compliance training
A surprising amount of money is wasted in business by poor resource allocation. Businesses often devote a sizable amount of their budget to improve compliance knowledge, but they don’t consider the needs of their staff or the gaps that hinder organisational success.
Conduct staff training needs assessments to identify skills and performance gaps in order to refine your training program content.
3, Repurpose existing training resources
Evaluate the training materials your business may already have, some past content may still apply to new learning objectives. For instance, a past company webinar can be easily converted into a series of online learning modules or microlearning activities to create an online health and safety training course.
4, Outsource time consuming or costly tasks
This may seem like an odd suggestion. However, outsourcing complicated or time-consuming tasks can actually help you save money with resources allocated more effectively.
For example, hiring in a specialist company to create online training modules from your previous training resources, would prevent the loss of productivity and cost in-house.
5, Invest in an online learning tool
As the saying goes, you have to spend money to make money. But the same rule applies to saving money. This doesn’t mean spending large sums on high-end, costly consultancy services.
Investing in an Online Learning Management System overcomes the need to provide costly classroom training sessions and expenses for multiple company departments. Online training offers a flexible solution. Many of these systems offer you the ability to customise them to suit your workforces training needs and reflect your company’s requirements. Translation into other languages is also possible, ensuring the same training is delivered across the business consistently while reducing additional expenses.
6, Save time
Reduce time lost. One of the biggest obstacles in traditional classroom training is the time it takes to deliver the content. Online delivery is faster, better, more valuable, and less disruptive to businesses.
HR and management can assign training modules via email, allowing staff to complete necessary training anytime and anywhere. With the added peace of mind of built-in reporting tools to view employee results.
7, Take the resources not courses approach
To make training more accessible and less costly adopt a ‘resources not courses’ approach. This means creating small pieces of information that can be easily accessed, digested and retained. These resources are often derived from an online learning program.
Making small key points of information available to staff across all devices gives maximum usage for minimal cost. For example, workers that can access key training resources on a mobile device, will have crucial information at their fingertips while on the job. Reducing performance gaps and the need for full compliance courses.
8, Online Learning Template Systems (Turnkey)
With turnkey Online Learning Programs you can adapt the content to suit your requirements. This may be something as simple as allowing you to add logos or replace images with ones that better reflect your organisation.
Some template systems can come with an document authoring system that allows you to upload your own learning resource library within the platform. Giving you more flexibility and ensuring that your online training resources are always current. These systems also cut costs, as there’s no need to start from scratch every time a new policy or regulation comes into play.
9, Don’t Forget About Culture
Creating a positive safety and learning culture will make employees feel valued and motivated. Which in turn leads to natural improvements in their skills and safety ethic, without having to rely on training alone.
Whatever the cost to your business of providing training, it’ll never be as costly as not doing so. Systems that are bite-sized, flexible, accessible and reusable offer the best low cost training solution and ROI.
These tips will help your business maximise compliance results while minimising expenses. Start with a thorough evaluation to see where your current system stands, then use repurposed content along with an online training system to cut costs.
It’s also essential to follow up with employees to ensure that your training is giving them what they need to comply. Remember to cut costs not corners.
Save time, money and hassle with our affordable and user-friendly Turnkey Online Training Systems.