In the business world, there are always choices. Should I upgrade my software or hardware? Should I try a new marketing pitch? Should I open a new branch? Should I hire additional employees, or invest in the employees I already have? Some decisions are easy because it has an immediate impact. For example, when hardware gets old and stops working, you are aware of the problem very quickly (ie a computer constantly crashing or parts breaking) and must be addressed just as quickly. A company needs to upgrade or risk impacting their overall business, either because of equipment failure or software malfunctions. Other decisions aren't quite as easy. The impact isn't always as immediate or may feel like a gamble. Employee training often falls in this category.
"When it comes to employee training, some small businesses are torn. They want their workers to be well equipped and productive, but they fear that these newly trained folks will desert them for higher-paying jobs at larger companies. That’s a narrow view and a potentially dangerous one. Companies that fail to develop their employees could be doing damage not only to morale, but to the bottom line as well." 1
Small businesses aren’t the only ones who struggle with the decision to invest in employee training. Large corporations often look at the per person cost training ($1000 or $1500 per employee) and quickly establish that it will cost too much money so it is better to let employees go and hire new employees with the desired skill set they are looking for. They don’t realize that replacing a single employee can cost a company upwards of 30 percent of that employee’s annual salary and lower profit margins. "Ten years ago, it was actually thought that employees were pretty interchangeable; now they’re really not," says Anna Rappaport, principal and worldwide partner at William M. Mercer Inc. in Chicago.
HR Magazine reports that companies investing $1,500 or more per employee per year on training average 24 percent higher profit margins than companies with lower yearly training investments. The American Society for Training and Development (ASTD) collected training information from over 2500 firms and found that companies that offer comprehensive training:
Have 218 percent higher income per employee than those with less comprehensive training,
Enjoy a 24 percent higher profit margin than those who spend less on training, and
Generate a 6 percent higher shareholder return if the training expenditure per employee increases by $680.
“Employee training programs are more than just a perk: effective employee training programs have been linked to improved retention and engagement rates. Unfortunately, training and professional development programs are often considered superfluous and are the first thing to go when an organization is looking to lower costs. While this may result in short-term gains, the long-term effects of cutting employee development and training initiatives (namely, an increase in employee turnover) will in fact result in increased costs as frustrated employees leave to pursue other opportunities.” 2
Now that you better understand the benefits and potential ROI of employee training, you have the decision of how to tackle the training. Fortunately, at Expand Learning we can work with your HR or Training & Development teams to create a custom training plan that works with your budget. Expand Learning Solutions' Managed Services will create efficiencies, reduce costs and remove the administrative hassles, often times associated with an "in-house" training program. We can provide a complete and tailored training solution which can substantially improve your organization’s return on training investment.
Expand Learning Solutions managed training services are tailored to your Organization’s specific training needs. It is a dedicated service to:
Manage your training schedules.
Provide curriculum guidance and material.
Offer training solutions.
Achieve measurable efficiencies.
Generate significant savings.
What do Managed Services include?
Expand Learning Solution's tailors a range of services, which is not limited to:
Business Consulting: We will evaluate and analyze your organization's training needs and recommend a path most appropriate to your needs.
Personnel Skills Assessments: Assessing skills and the necessary development paths for specific job roles.
Curriculum Strength and Diversity: Broad library of training material, from business skills to desktop applications, IT and Technical, Safety, and more.
Blended Learning Solutions: Combinations of Traditional and Online learning. Utilize Virtual Campus for primary learning or as a supplement to the classroom.
Single point of administration for all training requirements.
Why adopt Managed Services to your training needs?
Although essential, training can create a considerable administrative burden which can sidetrack an organization’s focus from its core activities and objectives. For organizations with large workforces across multiple locations, training administration can be significant and costly.
Expand Learning's Managed Services removes this headache, by providing an integrated learning solution which is managed by experienced training professionals. Expand Learning Solutions can increase the effectiveness of training budgets by:
Reduced administration costs.
Allowing managers and other personnel to focus on the core business and business objectives.
Targeting training more effectively for the business needs.
Ensuring consistently high standards, by using only vendor-certified courseware, trainers and .
Providing independent, expert, training advice, unaffected by "office politics".
demonstrating a clear return on investment.
Why choose Expand Learning?
Organizations can utilize Expand Learning Solutions' considerable training experience to achieve significant cost and time savings. Of course, we’re equally focused on the effective learning of each and every individual within your organization.
Experienced teams with the skills to create, manage and deliver large or niche training programs.
Strategic alliances with other leading training providers, which enable Expand Learning Solutions to provide training in all technology and professional skills areas as part of one seamless service.
Large portfolio of public, private and customized courses.
Reliable, professional service, dedicated to all training requirements.
Reporting -outlining return on investment and quality management.