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Getting The Most Out Of Your Corporate Training Budgets

Building a culture of innovation and operational excellence is more important than ever. Human Resources teams seek creative solutions to meet the needs of an ever-changing workforce. One key challenge is how to leverage your training budgets to achieve the goals of the firm. Brandon Hall Group’s 2015 Training Study found the average cost to develop one hour of training increased 12.6% from last year.

Here are some best practices to get the most value from your corporate training budget:

Evaluate Your Options

Build a multi-faceted training plan that takes advantage of a variety of low-cost or free resources. Use a dynamic mix of instructor-led classes, informal lunch-n-learns, self-paced multimedia and guest speakers to keep your course content fresh. Lean on thought leaders within your firm to share their experience. Be sure to take advantage of courses offered by vendors and industry associations as well.

Make New Skills Easy To Use

Another way to get the most value from your training budget is to make it easy for your teams to practice their new skills or implement new processes. Repetition is integral to learning, so it’s important to connect the dots between your training content and the team’s daily roles. This is especially true when migrating to a new software system. Providing micro videos and online tools are a helpful way to support user adoption, and always include contacts and resources in case the team has any questions after the training.

The Leadership Team Sets The Tone

A common challenge in corporate training is the lack of management support. The leadership will often tout the training as important, then skip the session or wander in for a few minutes. Ask your leadership team to actively participate in the training. Training sessions are more impactful when full teams attended the training together, then discussed how to implement the new skills in their current projects.

Develop A Routine

Make training an ongoing process within your teams. Many firms lack a formal mentoring program, so encouraging a culture of knowledge sharing and peer-to-peer development takes the pressure off your human resource team to provide individual training classes. It’s also helpful to define a set schedule for training sessions. When your teams have the training schedule in advance it’s easier to adjust project schedules and client meetings so the full team can attend.

Today’s Human Resource teams need to seek innovative ways to keep their internal workforce competitive. Human Resource leaders are using a mixture of informal and self-paced learning sessions to close the skills gap left by the increasing cost of corporate training. By communicating with your internal teams, you’ll understand which training topics will be most impactful and you’ll be better equipped to gather resources that meet their needs.