How to Do Trainings That Don't Break the Bank?

Employee training and upskilling have never been more important, yet they are often neglected by companies. Investing in employee training and development brings several benefits, including improved productivity, higher engagement, lower turnover, and reduced errors. However, many training programs seem to have minimal impact on actual job performance.

On average, employees spend just 1% of their time, or around five minutes per day in a normal workweek, on upskilling and training development. Additionally, there is a significant gap between training programs and their implementation, with only 12% of employees applying the skills they receive to their job. So, where is the training program falling short, and how can companies achieve better results?

The answer may lie in providing targeted training – an effective way to ensure that employees retain knowledge and can immediately apply it to their work. This approach helps overcome the "forgetting curve" by providing context and motivation for learning. To maximize the effectiveness of training, it is crucial to consider both the design and timing of the training, aligning it with the learner's motivations and providing opportunities for immediate application.

Here are some ideas on employee training that won't stress the budget:

1. Peer-to-Peer Training:

Encourage employees to share their expertise with their colleagues through peer-to-peer training sessions. This not only fosters a collaborative learning environment but also allows employees to learn from each other's experiences and practical knowledge.

2. Implement the "Buddy" System:

Pairing up employees, particularly new hires, with more experienced colleagues can be a cost-effective training method. The "buddy" can provide guidance, answer questions, and offer hands-on training, accelerating the learning process while promoting teamwork and relationship-building.

3. Adopt Microlearning:

Break down training content into bite-sized, easily digestible modules. Microlearning enables employees to learn at their own pace and conveniently fit training into their daily work routine. It can be delivered through short videos, infographics, quizzes, or interactive modules, making it engaging and accessible.

4. Utilize Online Learning:

Leverage the power of technology and online platforms to provide cost-effective training. Many online learning platforms offer a wide range of courses and resources at affordable prices or even for free. This allows employees to access training materials anytime, anywhere, and customize their learning path according to their needs.

5. Collaborate With Other Organizations:

Consider partnering with other companies or industry organizations to share training resources and costs. Collaborative training initiatives can provide access to a broader range of expertise and diverse perspectives, benefiting all participating organizations while reducing individual training expenses.

You don't build a business, you build people, then people build the business - Zig Ziglar

In conclusion, employee training is crucial for the success and growth of any organization. It enhances employees' skills, knowledge, and motivation, leading to increased productivity, efficiency, and engagement. By implementing cost-effective strategies, companies can provide valuable training to their employees while minimizing costs. Employee training is a smart investment that pays off in the long run by creating a more skilled and motivated workforce.

Let's make training a priority and create a culture of continuous learning within our organizations. Together, we can empower our employees, drive success, and adapt to the ever-changing business landscape.

Thank you for your time, and we look forward to your thoughts and insights.

(About Us: Anavio Global is a research based advisory firm & think-tank focused on building future Organisations & Leaders. We help HR Leaders build future-ready competencies, develop leaders for tomorrow, future-oriented people practices, build 4.0 cultures, develop organisational resilience to manage change better.)