The end of the year is quickly approaching , which marks the end of the fiscal year for many organizations. The beginning (or end) of a fiscal year is a great time to consider training needs. According to the National Research Business Institute, 23 percent of employees leave their jobs because of lack of training, so organizations shouldn’t underestimate the importance of training.
Here are some things decision makers should think about when budgeting for IT training:
Determine needs: Determine what your employees need when creating the budget. Don’t take a “one size fits all” approach, because it could end up being a waste of money. Think about what’s preventing your IT department from being more successful. Do team members need to be up to date on the latest version of Microsoft SQL Server? What about your end users? Maybe they need to be able to use the 2013 version of Microsoft Excel. Make sure you have a good idea of all of the needs, and the different ways to meet them.
Involve the right people: Often, the company president or chief financial officer is the one who signs off on paying for training. But make sure the people who will use the training on a day-to-day basis are involved in the decision-making process. They’ll have the best idea of what works for them and can help them perform their jobs with more success — and confidence! When possible, do a trial run of training solutions.
Training is tied to company performance: Think of training as an investment. If your employees don’t have the proper training, they might not perform their jobs well, causing your company’s product to suffer. The end result: You lose money. Prevent that from happening by ensuring that employees have the knowledge and skills they need to be successful. For more information about training and how it can fit with your company’s goals, click here.
Be flexible: By definition, a budget has fixed costs. But don’t forget to account for variables, especially if your company is growing. You might add more team members. Or, you could decide that a cloud-based solution is best for handling the company’s infrastructure needs. All of a sudden, IT department team members need to be able to make that transition go smoothly. Can your training solution accommodate such changing needs?
Compare formats: There are different costs for different training delivery formats. A live training not only has a registration price, but also has a cost in that employees are away from the office for several days or longer. Books and online training don’t require your employees to be out of the office, but they are a different way of learning. Here’s an excellent white paper about how e-learning can cut training costs.
Review last year’s spending: Look at how much, if anything, your company spent on training this fiscal year. Did you get what you wanted out of it? If not, it might be time to look for another solution.