The Best Way to Lower and Reduce Training Costs

One of the biggest costs of doing business is training employees. It does not matter if you are in the fast-food restaurant industry, or if you are a high-tech software business, your work force needs to be well-trained in order for your company to run efficiently. Although employee-training costs are unavoidable, they do not have to be as rampantly expensive as they have in the past.

 

With today’s technology, employee onboarding is more efficient, more cost effective and ultimately more successful. The following methods are a great way to lower and reduce training cost while increasing productivity and employee satisfaction.

 

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Start a Mentoring Program

Mentoring is a training method where companies use veteran or long-term employees to train, tutor and offer support to new hires. This method of employee training has a three-fold advantage: not only is it an invaluable tool for teaching your new staff members all the complexities of a job – it gives a confidence boost to the mentor and cuts onboarding costs for the employer:

 

1. Mentor

When you assign someone a teaching role, it cultivates a sense of being needed. Teaching is a very powerful catalyst for self-confidence and leadership, compelling us to think hard about the values and knowledge we are required to instill. Employees who are handed the responsibility of mentoring a fellow employee often go through a hastened maturing process that brings with it a renewed loyalty to the workplace.

 

2. New Employee

The new employee, on her/his end, benefits from having support for difficult tasks. While mentoring does not replace a structured onboarding process, it can certainly soften the first few days’ stress and overwhelmedness. We have all experienced, at one time or another, the intimidation of unfamiliarity with a new workplace’s codes, culture and work norms. Having someone “in your corner” goes a very long way in smoothing out those fears and creating a positive affiliation with a new work environment.

 

3. Employer

The savings to the employer come from not having to hire outside training sources, and by having less costly mistakes made by unsupported new hires. Not only does mentoring reduce workflow errors and streamline the onboarding process – it also increases the likelihood of reducing employee churn, and staying on board in the company’s service after the 6 months of churn dread.

 

Self-service and Automated Tutorials

One of the fastest growing fields of employee training is the use of self-service onboarding solutions and automated tutorials. Allowing new hires to learn the job (or a portion of it) using online training with tutorial guides can save the time and money of hiring a trainer.

 

A great advantage self-service tools offer is allowing trainees to proceed at their own pace. This allows employees to balance work-training routine more effectively and regulate training according to their learning capacity. If you’re worried this means employees can shirk training duties – keep in mind that a smart interactive training platform offers usage analytics dashboards and reports, as well as Push/Pull functionalities which the training team can utilize to make sure everyone goes through with the training the need.

Webinars Instead of Seminars

In today’s global economy, there are few businesses that deal solely within their own geographical areas and the costs of gathering employees in one spot in order to conduct training can be daunting. Fortunately, with modern technology, an employer can skip the costly airfare and hotel bills associated with a conventional seminar and run a webinar instead.

 

Not to be confused with a webcast which is one-way communication (e.g. YouTube), a webinar allows for interaction and discussion between all parties involved. It is a great tool for both training and workshops. Be sure to do your research and choose a good conferencing program. Not all conferencing software is created equal.

 

The Benefits of Crowd Support

Crowd support is an often underused element in a training arsenal, yet it can be a valuable tool in reducing the costs of employee training. Setting up online forums for your employees to ask and answer questions has virtually no cost, other than its initial setup, and it can be a great way to take advantage of IT employee downtime. Instead of waiting for the next call, your IT team can browse the forums, answering questions and creating FAQ posts.

 

LinkedIn Groups are another great aid to training. Not only do your employees have contacts within your company, but they can also access the expertise of colleagues working similar occupations in other companies. By letting your employees help themselves, you reduce error costs, increase productivity, as well as increasing self-sufficiency, and employee confidence, thus ultimately creating a better workplace environment.

 

Looking for Affordable Onboarding? Invest in Technology

Employees who have undergone professional training are every company’s greatest asset. Having employees who can do their job with efficiency and with personal satisfaction is one of the hallmarks of successful companies. Training however, does not have to come with an astronomical price tag or a burden to everyday work routine. With the use of modern technology to increase successful onboarding, you can have an impeccably trained staff at a reasonable cost.

 

Iridize can help you reduce employee training costs.

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Noa is Iridize's Head of Content. With a background in digital strategy planning and database management, Noa translates Iridize's vision, stories and data into words. Digital learning and user experience are a particular passion of hers.