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10 Savvy Ways To Spend Leftover Business Training Budget

How To Spend Business Training Budget?

1. Buy access to "evergreen" online learning content

2. Team away day

3. Upskill on business basics

4. Reward for the top learner of the year

5. Interactive training method

6. E-learning training

7. Video training

8. Job shadowing

9. Simulators

10. Game-based learning

 

Allocating part of your company's budget on training is a step in the right direction. However, without a planned approach to business training investment, your investment might be fizzled away without getting anything worthwhile in return or worse, underspent leaving a trail of missed opportunities behind you.

To keep you updated with the latest business training trends, we have compiled a list of ten ways to spend your leftover training budget.

 

Buy access to "evergreen" online learning content

Evergreen learning content will always be relevant. Such learning material is an excellent base on which your team can build their knowledge. Consider investing in lifetime access to evergreen content to have it available whenever your staff members want to learn something extra.

 

Team away day

Work is essential, but so is fun. Treat your employees with a day off from the office hustle and organise a team building day instead. Think about what they would enjoy doing and incorporate a short, but fun training course to go along with it.

 

Upskill on business basics

Business training should not be limited just to your industry. Encourage your managers to take basic training in e-commerce or finance even if their work has nothing in common with these jobs.

Promoting out of the box thinking leads to new brilliant ideas and possibilities.

 

Reward for the top learner of the year

Learning can be hard work and requires discipline and motivation to stick with it and learn that new skill. Why not acknowledge that by rewarding the best learner with something they would be happy to have or a trip they have planned to take? People like it when others notice their achievements and efforts to improve themselves.

 

Interactive training method

If you want your employees to get the most out of the training sessions, try looking for practical training methods.

Small group discussions, role-playing, demonstrations and quizzes promote discussions and two-way learning. Participants stay in high spirit during the interactive sessions because they are exciting and are not taking too long to complete.

 

E-learning training

E-learning is an affordable way to train your staff members. Many online training schools provide online courses that will answer all questions. Online learning is a practical use of the remaining of your business training budget because it is an affordable and time-effective option.  

The courses are designed by experts in their field who know how to keep things compelling and to the point.

 

Video training

Video training is another cost-effective method that delivers results. The information in the videos is more comfortable to digest and suits visual learning styles because it doesn't require the same amounts of concentration as when reading a long text. 

There are different video training approaches:

  • Screen recorded videos: video showing the display of the educator. Very useful for learning various programs.
  • To camera: direct communication between the trainee and the educator.
  • Live action: interaction between employees, dealings with customers and role-play scenarios.
  • Animation: hard to comprehend topics made easy with engaging animation that will undoubtedly stay in memory.

 

Job shadowing

Investing in job shadowing is an inexpensive process during which one employee observes the work of another. This method is a practical way of learning and stimulating teamwork and can fall under the training budget spend for the year.

 

Simulators

Investing in Simulators are another appealing way for your employees to learn more about the industry - particularly for technical work skills. There are many different simulators available online that teach the participants how to deal with real-life situations. Simulations are challenging yet entertaining way to learn and retain knowledge.

 

Game-based learning

Companies are finding creative ways to keep investing in building the knowledge of their employees. Game learning is an interactive method of training that uses the game as the basis. The e-learning content is designed into the game or added additionally. This approach helps boost engagement, and it is an excellent way to remember new information.

 

Implementing diverse business training strategies is vital for your business's growth and a great way to spend leftover business training budget. With so much new information and changing trends, it is easy for in-house training to become outdated. The most practical way to fix this quickly is to invest in fresh online learning content and make it available to all staff.

 

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