09.20.20176 min read

A Guide to Workforce Training on a Tight Budget

A lot of employees feel that they are not achieving their full potential at work. Plus, one out of three people leave their organization within the first year, so the only solution companies can turn to is workforce training. By training employees, business owners can increase productivity, but more importantly, they can manage to motivate and engage employees which leads to better collaboration.

However, the problem arises when an organization is running on a tight budget. If we take a look at statistics, 58 percent of organizations spend more than $1,000 per learner on training, but still, an analysis confirms that there is a way to meet employee professional development needs and yet manage to save pennies. Welcome to the world of e-learning and its modern innovations.

More 87 percent of users already have an LMS (learning management system) solution, and by the end of 2017, a whopping 98 percent of all organizations will use digital learning as an effective business strategy. Nonetheless, it all comes down to the preferred approach, hence, here is a small guide to help you found your training weapon of choice.  

Online training equals flexibility

Online learning solutions for workforce training are known for their cost-effectiveness. In fact, online employee training software provides the much-needed budget flexibility, as well as access to learning content anytime and anywhere, with the highest retention rate.

This type of training has become a corporate trend because it allows workers to learn at their own pace while conveniently cutting the costs of scheduled training in a classroom—like an instructor’s fee, commuting costs, and maintenance. Also, an online classroom encourages employees to interact online and share knowledge while making a positive shift in the corporate culture.

Internal training builds a team

If the staff is not ready to go online, they can always learn internally. Bonding with the employees and truly working as a team in order to achieve business goals is the way to go, and the most obvious tactic to connect organization and productivity is by integrating training software for employees.

There are plenty of valuable learning management systems on the market, hence, you should take advantage of the interactive tool.  Actually, this is the main focus because, due to its engaging structure, learners get a certain increase in skill-based knowledge, as well as in retention rates. In addition, e-learning software is user-friendly, supporting the course makers on the path of the ideal training creation.  

Live feeds, webinars, and Q&As

Organizations that have their hands tied with a limited budget can try to recreate an interactive classroom via live feeds, Q&As, and webinars. These useful tools provide the missing element and offer a sort of a middle ground between a traditional classroom and online training. The part they take from classroom learning is personalization while the fact that they are online makes them live and immediate resources for real-time data. Furthermore, they can be watched at any moment, as many times as the learner needs to acquire the strong knowledge base.

Peer-to-peer learning

“Learning for everyone, by everyone, about almost anything.” This type of learning is perfect for organizations struggling with training investments. Basically, peer-to-peer learning is an educational practice in which learners interact with other learners to attain their knowledge objectives.

This mutually beneficial learning style can be performed online via videos, forums, blogs, etc., or conducted in person by creating small learning groups. Of course, in a corporate setting, it is best to include a mentor for proficient guidance throughout the training. An experienced mentor can give face-to-face support, essential learning materials, and necessary feedbacks. Likewise, this is one of the most flexible ways of training the staff. Still, it might require more time to properly prepare the workforce to take hold of the increased job responsibilities.  

Workshops

So here’s an idea—why not combine both online and traditional training to make something effective? A company can organize a day out of the office and lead their staff to a workshop to practice and collaborate while the costs for an instructor can be cut by employing someone within the organization.

For example, find employees with strong communicating skills and a talent for business and appoint them to the instructor position. Thus, employees will have someone familiar to relate to while still enhancing their learning efforts. During office hours, they will practice business operations and, on that one day off, they will gain more crucial information from the company’s superstar.

Blended learning

Saving the best for last, blended learning is the powerhouse of training. By mixing online technology assets with classroom learning methods, blended learning is the best way to increase your employees’ skill sets and confidence after training. To put it simply, learning is magnified thanks to all of the methods of learning combined via virtual educational media which even offers the ability to attend a face-to-face classroom.

The best part, however, is the fact that employees control the time and pace of their learning. That said, organizations with an LMS structure already in place should really consider introducing blended learning to their employees because the two combined make an undisputable knowledge powerhouse.  

Conclusion

Which of these options suit your business? The reality of this modern age is that an organization can’t survive without some form of e-learning. And, why should one limit their growth and avoid the most affordable and valuable solution there is? If you are looking for a budget-friendly source of real knowledge, you have online employee training software at your fingertips. Still, consult the workforce to find the solution best fitted for your corporate environment. 

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Kamy Anderson is an ed-tech enthusiast with a passion for writing on emerging technologies in the areas of corporate training and education. He is an expert in learning management system and e-learning authoring tools, currently associated with ProProfs.

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