The Bottom Line- What’s Your Company’s Training Budget?
With the current state of the economy many training budgets are on the decline. So what does this mean? Well, ever hear the saying “try to do more for less?” Although money does play a part; companies can either transform existing solutions into a new training medium or choose a less expensive training product. And although off-the-shelf type of products may be cost effective are they really learning effective? So the formidable challenge is to find a cost effective solution with unprecedented results. That’s where Visual Purple steps in… check out our CBT e-Simulation transformation into a virtual world with a very appealing price tag.
A recent online survey conducted by ASTD asked people what changes have been implemented within their companies’ training departments to weather today’s turbulent economy.
-49.7% reduced travel of learners for training
-42.5% reduced travel of instructors for training
-27.5% moved instructor-led courses to e-learning or web-based courses
-17.4% made no adjustments
-16.2% moved training in-house (instead of off-site)
-Creation of new content – 15.6% reduced
-Reuse of existing programs or courses – 15.6% increased
-Training dollars per employee – 20.4% reduced; 0.6% increased
-Training budgets for the remainder of the year – 34.5% reduced; 2.4% increased
-Training hours per employee – 13.2% reduced; 4.8% increased
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Very informative post. We use an Accounting Software Training provider who comes to the office. It saves a lot of time and money as there are no expensive hotels, travel and all the other costs associated with sending delegates on courses.