There is no doubt employee training boosts motivation and reduces turnover. But did you know that training also provides employees greater direction, purpose, and peace of mind?
According to a recent report, 94 percent of employees say they would stay with a company longer if their employer invested in their learning. The report also found that heavy learners are 47 percent more likely to find purpose in their job. They’re more likely to know the direction of their career. And they’re 47 percent less likely to feel stressed at work.
Ongoing employee education should be a top priority for every organization. Unfortunately, the abrupt shift to remote work sparked by the pandemic forced many companies to push training to the back burner. As companies reexamine their 2021 budgets, many HR and training professionals seek smarter ways to invest in and execute employee training in 2021.
Here are four tips for getting the very best training for your employees — even if you have a smaller budget:
1. Ask Managers and Employees to Help Identify Gaps in Knowledge
According to a recent McKinsey memo, CFOs budgeting for 2021 should be looking to unlock more profound value from every investment. That includes employee training. Of course, for some companies, maintaining certifications will require training. In other cases, you may be completely clueless about the gaps in employees’ knowledge.
To ensure you’re investing wisely, talk to department managers and employees about what type of training would be most beneficial. Their knowledge and support will be helpful if you have to make a case for the investment. Plus, employees are likely to get more out of training they’ve already identified as needed.
2. Invest in Private Group Training
The pandemic may have disrupted your training in 2020, but that doesn’t mean 2021 should be a lost year. You can set up private group training either on-site or virtually, depending on current COVID-19 restrictions and your organization’s comfort level. Private group training gives you ultimate flexibility on scheduling, and the instructors come to you.
Private group training is an excellent investment, in part because you can tailor training to your company and employees’ needs. For example, IT training solution provider IBEX offers a customized curriculum to ensure the training aligns with your organization’s goals. They also incorporate your internal processes and terminology into the curriculum. Plus, educating an entire team or department is more cost-effective than training individuals.
3. Set-up Video “Lunch and Learns”
Executing employee training isn’t just about giving your team the technical skills they need to level up. It’s also about igniting their curiosity and creating a culture of growth. Of course, this idea gets a little nebulous when your team is remote. After all, where does that spirit of inquiry live when your employees are working from home?
One way to keep this growth mindset during a lockdown? Coordinate virtual “lunch and learns.” You’ve probably heard of TED Talks, but now you can get customized video recommendations based on your interests with TED Recommends. Pick a new video every week, and then discuss it as a team via Zoom. Not only will this help spark curiosity and innovation, but it will also give your team some much-needed social interaction.
4. Book Virtual Conferences Early
As COVID-19 cases surged, many organizers canceled major 2020 conferences. It’s unclear if big festivals such as South by Southwest will have physical events in 2021, but many are planning online events. While digital experiences don’t bring all the excitement of in-person events, there are certain advantages to booking online conferences.
First, many conferences are making their panels and keynotes available on-demand. This approach allows for greater flexibility and means your team can be sure not to miss the most relevant sessions. Second, these virtual events enable HR and training professionals to score tickets for a fraction of the typical cost. Tickets to SXSW usually cost upwards of $1,700, for example. But early-bird tickets for the virtual event are going for just $149. Plus, your company won’t have to foot the bill for plane tickets and hotel rooms.
Now more than ever, the future is uncertain; no one has any idea how 2021 will look.
The one thing we do know? Ongoing employee education provides enrichment that boosts job satisfaction and morale. Training is also an investment in your human capital that pays dividends for years. So as you look ahead to 2021, pay extra attention to how you will execute employee training for your company.