Advancement of technologies paired with the rising competition amongst companies is only saying one thing to its corresponding owner and management: produce quality products with the least amount of input in terms of money, time and effort. So the company seeks for ways to reduce their expenditures to the least possible.
Financial crisis because of low sales due to local or global financial recession or fierce competition would firmly instruct the whole company to tighten their belts. And the first and most likeable department to feel it is the training department. But there are ways to comply still of the CEO's directive for the budget-cut for the sake of the company's continuing quality output without spending too much. After all, the training department objective is to produce the lean functioning manpower the company needs to sustain stable operation. This list will surely help and would give a thumbs up for everyone:
- Handout self-help workbooks and notes - If you can give to the employees some self-help workbooks and notes, it will aid them more than enough. Instead of conducting trainings for the whole day just give them these workbooks and notes for which they can read through during there free time and can bring home. Encourage them to have a casual discussion with their workmates about the subject and have a brainstorming session. It would be like those high-school and college days and they are effective.
- Let local experts train the people during some sessions - Instead of hiring professional trainers externally which demand high compensation rates, take an expert of a local machine and have him discuss to the group of trainees. Most if not all companies have some sort of 'specific' experts on every machine or software installed plantwide.
- Eliminate unnecessary training sessions and assess which personnel needed the training - Just three months ago, I was sent to a full day training on the introduction to Windows 7 operating system. It would be a plus for me if I were not a computer user of the said software but it was already part of my job in using the system and most of the people who were in that training session. So most of us where either feeling bored or had their minds flying somewhere.
- Contact time for face-to-face training should be reduced - If you can train the participants in less hours away from their work without comprising the quality of the training, the company can save significantly on opportunity costs. This can be done if you give a preliminary materials ahead of time before they arrive. This can be done through handing out overview of the training session. These should give time for the participants to eliminate unnecessary questions and prepare for the necessary one which is not answered by after the training.
- Evaluate your training suppliers - If the company is having more than one external training suppliers, evaluate them and cut a deal with them in terms of volume and quality. Some training vendors are willing to cut their rates even just to sustain your vendor-client relationship.
- Minimize on material costs - No need for those glossy papers and expensive souvenir give-aways. An information printed on a glossy paper and on an ordinary paper have the same quality information side by side. And set aside those pricey training souvenirs. An "I am trained on _____" sticker is one example you can give away which costs much much less.
- Check your local colleges and training institutions for great deal packages - Sometime, materials and equipment are not available in the company itself for training purposes. Instead of contacting high cost training vendors, an institution of learning available locally would be a very great option and they are charging usually per session and not per person in which the company can cramp up to the maximum seating capacity and have an extra few without additional charges.
- Conduct in-house trainings instead of off-site to cut down on travel expenses. Having to send a few dozen of people to a remote site would be much expensive than to have only the trainer travel to your site instead.
The suggestions above would surely cut down on those expenses and that is not the all of it. There are still more of which the training department personnel can come up with very notable financial savings. The CEO would surely give the department for these.
If you have any additional ideas, share it through the comment box below or you can share your own list on the forums! It would surely help our readers.