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Are you budgeting for training activities?

December 17, 2018

Whether you are a large or small organisation budgeting for training activities for employees can be a challenging and complex task.

If you have a limited budget it can become even more challenging, as can factoring in the cost in terms of loss of time and loss of productivity.

Learning and development is essential to the success of any organisation and training should be a priority. The needs of workers and working environments are dynamic, training will help to keep the organisation and its people moving forwards and help with growth. Learning and development is essential to attracting, developing and retaining talent. It will have an effect on employee engagement, retention, productivity, growth and succession planning. 

Evaluate the organisational goals and the challenges

Identify if there are skill gaps in the organisation that need to be filled, this will also help with succession planning. Creating training programmes for specific roles, departments, managers and new recruits will give consistency across the organisation, ensuring that employees have the same opportunities gaining knowledge and experience.

Does the organisation have a dispersed workforce with employees working remotely? If you do then more traditional formal training based in the classroom can be challenging. Alternatives such as online training could help in these instances. Online delivered training can be faster and less disruptive than classroom training, as employees don’t have to leave their desks or head to a specific location. Blended learning which is a combination of online learning and classroom learning could also be a solution to meeting training requirements.

70:20:10 model

One method developed in the 1980s was the 70:20:10 method for learning and development, it is a formula used to describe the optimal way of learning and found that:

  • 70% of learning is from on the job experiences
  • 20% is learned from our relationships with other people and feedback we receive
  • 10% of learning is attributed to formal training.

Many organisations have gone on to use these findings as guidance for their learning and development strategy.

Consider what the right level and type of training are required for your employees and organisation. With 70% of learning being on the job experience it doesn’t mean that leaving people to get on with their job will count as training! It will need to be well-structured with a clear plan of the goals and objectives of the training to be given. For example, work shadowing, mentoring and coaching will require training for the mentors and coaches, adequate time will need to be allocated to allow for the training and learning to take place

A well-designed learning and development strategy needs to be flexible and innovative to keep up with rapidly changing working environments and the needs of today’s workers. When training is focused and meets the strategic objectives of the business it is highly effective in driving change and increasing the performance of an organisation.

How can the team at Dakota Blue Consulting help?

The team at Dakota Blue Consulting is made up of experienced HR Directors, we work with a diverse range of businesses to help them get the best from their people.  From Day to Day HR Support through to Policy and Handbook Creation.  Call us on 01233 622651 or email us on hello@dakotablueconsulting.com to find out how we can help you and your business.