As training budgets are slashed and money becomes tighter, our recent research findings are being quite useful to training organizations across the country.
To maximize the value of your training budget it is very important to start managing your training organization like a business.
To start with, it is important to know your training organization’s core competency, and your true value to the company as a whole. If your value is not in training administration or application management, then it would be a good idea to shed that work or find ways to streamline it. This will help you gain focus on your core areas. Training content development is one other area of this kind which could either be shed or streamlined for improved efficiency in the training organization.
According to our research, cost of training administration accounts for around 40% of a total training budget. Streamlining or shedding some of these responsibilities makes it possible to redeploy a percentage of your budget to more valuable services like training delivery and content development, and yields a greater return on investment. Business process reengineering and outsourcing allow your organization to operate in a more strategic way – by letting you focus on designing and delivering learning initiatives that directly help your company improve its performance and competitive position.
It is also important to market your training programs, especially during this financial crunch. Just because you build a program doesn’t mean learners will enroll! This is especially true if you’re moving away from instructor-led training to more cost-effective models such as e-learning development. This cultural shift typically requires internal marketing to achieve a reasonable adoption rate.
To learn more about this concept and to learn how to eliminate training waste, download our white paper.
If you need advice on how to increase the training efficiency of your learning organization, feel free to contact me.
Tags: learning, training budget
