Out of all the investments you can make into your business, few are more important or relevant than the ones you make into training and cultivating your human capital. There are lots of ways to invest in your employees, but corporate training is one of the preferred methods.
The question is, are you doing an effective job?
Revamp Your Corporate Training Program
When you hire an employee, you often do so for the potential that you see in them. In some cases, the individual is already well-established and comes with a wealth of experience that can be imparted on the organization. But in most cases, there’s a degree of education that needs to happen in order to bring new hires up to speed. A thorough and strategic corporate training program is the answer.
If your current corporate training program is stale and lifeless, it’s time to take some steps toward revitalizing it. Here are ideas and suggestions for how you can move:
1. Identify and Set Goals
It’s impossible for training to be effective without goals. A haphazard approach will yield haphazard results. Either you plan for what you want to accomplish, or you’ll accomplish nothing of consequence.
Start by identifying what you want your employee training to accomplish. In a perfect world, what would the outcome be? Is corporate training about covering your rear in case of legal problems, or is it about educating employees so they can take on new responsibilities? Either one is fine, but you need to be clear on what your outcome is so the training can be shaped accordingly.
2. Develop a Budget
Training isn’t free. It either costs time or money – and in most cases, it requires a significant investment of both. After clarifying your goals, sit down and develop a budget.
“Many medium and large organizations invest anywhere from 2 to 5% of salary budgets back into training. While that may not be realistic for a small business, it’s important to find a training budget per employee your company can absorb,” eFront Learning mentions.
3. Pursue Cost-Effective Methods
It’s not about how much money you have to spend (or the lack thereof). Instead, focus on stretching your budget through cost-effective training methods. This looks different for every organization, but you may explore something like video-based training.
“Using video for corporate training lowers costs by reducing the need for live onsite training sessions eliminating expenditures related to travel and the creation of physical classrooms,” Intelligent Video Solutions explains.
Depending on your circumstances, it might make sense to outsource training and offload this responsibility onto a company/professional that can deliver better results. It’s all about opportunity cost. Do you have the time to do it in-house, or is it better to partner with another organization? There’s no right or wrong answer here.
4. Give Employees a Say
If you’re too strict about requiring certain training methods and use a rigid curriculum, your employees may become disengaged. Thus, it’s highly recommended that you give employees a say in the curriculum. This establishes a sense of ownership that motivates them to lock in and participate. Some organizations even find it helpful to have experienced employees teach some of the curriculum.
5. Gather and Listen to Feedback
Training can easily become stale. You shouldn’t use the same curriculum and training methods year after year without change. You’ll end up wasting resources and failing to prepare employees for the real needs they face.
After each corporate training program is completed, take the time to gather feedback from your employees. (Make it anonymous if need be.) Ask for honest input on what was effective and what wasn’t. Also, provide space for employees to offer feedback on things they’d like to see in the future. This input is invaluable and should shape your future approach.
Stay Ahead of the Curve
The corporate training field is constantly evolving. New technologies and trends are constantly emerging and you don’t want to fall behind. By staying abreast of the latest developments, you can maximize the potential of your human capital and set your organization up for success.
Don’t miss out on a chance to better your business!